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Lockheed Martin Outlines $1.6 Billion In Charges, Including Skunk Works Program

Cal Biesecker By
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Lockheed Martin Outlines $1.6 Billion In Charges, Including Skunk Works Program
Logo for Lockheed Martin Skunk Works. Source: Lockheed Martin

A program at Lockheed Martin’s [LMT] secretive Skunk Works unit continues to bedevil the company, racking up a $950 million pre-tax loss, the largest of $1.6 billion in charges the company took in its second quarter. The unnamed classified program is a must complete job, Jim Taiclet, Lockheed Martin’s chairman, president and CEO, said Tuesday during the company’s second quarter earnings call.  “game changing “This is a highly classified program that can only be described as game changing capability for…

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