Defense contractor Lockheed Martin on Tuesday joined rival RTX in lifting annual profit and sales forecasts, driven by robust demand for military equipment...
- Defense contractor Lockheed Martin on Tuesday joined rival RTX in lifting annual profit and sales forecasts , driven by robust demand for military equipment amid escalating global tensions.
Conflicts in the Middle East and the protracted Russia-Ukraine war have resulted in nations boosting their defense spending, which has benefited arms manufacturers. In the absence of reimbursements, Lockheed is forced to pay for the parts of the F-35 jets to be delivered in 2026 and 2027."Had the program been fully funded over this period of time in the third quarter, we would have had sales closer to about 5% growth." Lockheed CFO Jay Malave told Reuters in an interview.Lockheed's per share profit stood at $6.80 for the third quarter, compared with $6.73 a year earlier, on quarterly net sales of $17.10 billion.
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Sales Forecasts Military Equipment Robust Demand
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