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Lockheed Martin Posts Lower Earnings, Higher Sales Amid Major Transformation

By Cal Biesecker

Tuesday, January 24th, 2023

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Lockheed Martin Posts Lower Earnings, Higher Sales Amid Major Transformation

James Taiclet, chairman, president and CEO of Lockheed Martin. Photo: Lockheed Martin

Lockheed Martin [LMT] on Tuesday reported better than forecast top and bottom-lines in its fourth quarter, posting strong sales growth and a slight dip in earnings as the company touted significant progress in 2022 in an ongoing transformation effort designed to expand the use of digital technologies and accelerate engineering and development to get solutions to customers faster at less cost. The transformation effort, dubbed One LMX, was driven by a record $1.9 billion in internal research and development (IRAD)…

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