Aerospace Group:

Business/Financial

F-35 Weighs On Lockheed Martin In Third Quarter; Next Production Award Looms

By Cal Biesecker

Tuesday, October 22nd, 2024

SHARE:

F-35 Weighs On Lockheed Martin In Third Quarter; Next Production Award Looms

Two U.S. Air Force F-35A Lightning IIs assigned to the 48th Fighter Wing perform a pass over Royal Air Force Lakenheath, England, on April 16, 2022 (U.S. Air Force Photo)

Higher internal spending on the F-35 fighter program pressured earnings and sales at Lockheed Martin [LMT] in the third quarter as the company awaits a wrap on negotiations for the next production lots of the aircraft. Lockheed Martin expects to finalize the Lot 18 and 19 production contracts in the fourth quarter, which will allow it to recover sales, profit, and cash. In late 2023, the Defense Department awarded the company a $1.7 billion advanced acquisition contracts for the production…

Congress

Pentagon Fiscal 2027 Budget To Address Cannibalization Of Parts For F-35, Legislator Says

The Pentagon’s upcoming fiscal 2027 budget request will help reduce the cannibalization of parts for the F-35 fighter by Lockheed Martin [LMT], the chairman of the House Armed Services Committee’s […]

Budget

Trump’s $1.15 Trillion Request For DoD Is The ‘New Normal,” HASC Chairman Says

COLORADO SPRINGS, Colo.—The Trump administration’s nearly $1.2 trillion baseline defense budget request for fiscal year 2027 will be adopted and will be the foundation for the “new normal” going forward, […]

Congress

Trump Wants Second Reconciliation Bill On His Desk By June 1

President Donald Trump on Wednesday called on Congress to pass and send a second reconciliation bill to his desk by June 1. The deadline follows congressional Republicans’ backing a pursuit […]

Space

Upgrading Current GPS Ground System “Now a Viable Option,” As GPS OCX Problems Continue, Space Official Says

Upgrades to the GPS ground system–the Architecture Evolution Plan (AEP)–is an option under consideration by the Defense Department’s space acquisition chief, as problems continue in fielding the GPS Next Generation […]