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Charges On Classified Programs Dampen Lockheed Martin’s Fourth Quarter; Taiclet Supports DOGE

Cal Biesecker By
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Charges On Classified Programs Dampen Lockheed Martin’s Fourth Quarter; Taiclet Supports DOGE
A U.S. Air Force F-35 Lightning II assigned to the 48th Fighter Wing, Royal Air Force Lakenheath, U.K., demonstrates landing and takeoff operations during exercise BAANA 2024 on Sept. 4th on Hosio Highway Strip, Ranua, Finland. During the exercise, the aircraft landed on the Finnish highway strip to practice Agile Combat Employment, the Air Force said (U.S. Air Force Photo)

Charges on two classified contracts drove net income down at Lockheed Martin [LMT] in the fourth quarter and all of 2024, the company reported on Tuesday. The contracts lopped $1.5 billion after-tax off the bottom-line, including one in the Missiles and Fire Control (MFC) segment worth $1.3 billion pre-tax and the other in the Aeronautics segment estimated at $410 million. The charge in the Aeronautics segment is in addition to $145 million previously taken on the program in 2024. Jay…

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