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Business/Financial

Lockheed Martin’s Sales Dip In Third Quarter, Sees Further Drop In 2022; Aerojet Deal Delayed

By Cal Biesecker

Tuesday, October 26th, 2021

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Lockheed Martin’s Sales Dip In Third Quarter, Sees Further Drop In 2022; Aerojet Deal Delayed

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

Lockheed Martin [LMT] on Tuesday reported lower sales in its third quarter and reduced its outlook for revenue for 2021 with further declines expected in 2022 before rebounding to growth beginning in 2023. Combined with the depressed sales outlook at least through 2022 and a cut to the forecast for operating cash flow this year, investors sent Lockheed Martin’s shared down $44.43, nearly 12 percent, to close at $331.90 on Tuesday. James Taiclet, chairman, president and CEO of Lockheed Martin,…

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