:

Business/Financial

Lower Tax Rate, Pension Tailwind Drive Profit Increase At Lockheed Martin

By Cal Biesecker

Monday, July 20th, 2015

SHARE:

Lower Tax Rate, Pension Tailwind Drive Profit Increase At Lockheed Martin

The Marine Corps' short takeoff and vertical landing (STOVL) F-35B performs a vertical landing. Photo: Lockheed Martin.

Lockheed Martin [LMT] on Monday posted higher sales and net income in its second quarter with the bottom line gains driven by a lower tax rate and favorable pension adjustments.The solid results were above the company’s expectations and led it to increase earnings guidance for the year.The company was slated to report the quarterly results on Tuesday but moved the release up a day to coincide with its announcement that it has agreed to acquire Sikorsky Aircraft from United Technologies…

Congress

CENTCOM Looking To Lessons Learned From Use Of LUCAS Drones

U.S Central Command (CENTCOM) is looking to lessons learned from its use of Low-cost Unmanned Combat Attack System (LUCAS) drones by Phoenix-based SpektreWorks, according to CENTCOM head Adm. Brad Cooper. […]

Army

Hegseth Says DoD Open To Reviewing Army’s Planned Cuts To Legacy Helicopter Procurement

Defense Secretary Pete Hegseth has told lawmakers the Pentagon is open to reviewing the Army’s planned procurement cuts to its legacy manned aviation fleet. Rep. Rosa DeLauro (D-Conn.), ranking member […]

Congress

Appropriators Press For Details On Iran War Costs; DoD’s $29B Estimate Doesn’t Include Base Damage

The Pentagon estimates the U.S.’ ongoing conflict with Iran has now cost at least $29 billion, while a lead official noted the updated figure does not factor in damage to […]

Congress

Appropriators Offer Skepticism On $350B Defense Reconciliation Plan, ‘Big Risk’ For Key Initiatives

Senate and House Appropriators told Pentagon leadership on Tuesday they’re skeptical of the department’s plan to fund $350 billion of the fiscal year 2027 defense budget through the reconciliation process, […]