Lockheed Martin awarded $2.97B Missile Defense Agency contract
Don't Miss TipRanks' Half-Year Sale
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Business Insider
13 hours ago
- Business Insider
Lockheed Martin awarded $2.97B Missile Defense Agency contract
Lockheed Martin (LMT) was awarded a sole-source, 10-year indefinite-delivery/indefinite-quantity contract with a ceiling of $2,97B. Under this follow-on contract, LM RMS will provide continuation of the Aegis Ballistic Missile Defense Combat Systems Engineering Agent in order to maintain operational relevancy in support of the Missile Defense System. The Aegis BMD CSEA is the responsible Aegis BMD Weapon System design, development, integration, sustainment, and computer program source for Aegis cruisers, guided-missile destroyers, Aegis ashore variants, Aegis Guam System, and Glide Phase Intercept. LM RMS will provide execution of future studies, concepts, and computer program development to achieve capability improvements across all phases of the fire control loop (plan, detect, control, engage, and assess) in accordance with government provided interface requirements that can be delivered to the CSEA or other government designated agents for integration into the Common Source Library, and/or Integrated Combat Systems software architecture The anticipated period of performance is July 2025 to June 2035. Research, development, test and evaluation; defense wide procurement; and operations and maintenance funds, will be utilized to execute the proposed scope. The work will be performed in Moorestown, New Jersey. The Missile Defense Agency is the contracting activity. Don't Miss TipRanks' Half-Year Sale
Yahoo
a day ago
- Yahoo
Lockheed Martin's Quarterly Earnings Preview: What You Need to Know
Bethesda, Maryland-based Lockheed Martin Corporation (LMT) specializes in manufacturing and designing fighter aircraft and missiles. It's popularly known for its fighter aircraft like F-16 Falcon, F-22 Raptor, and F-35 Lightning. With a market cap of $107.4 billion, Lockheed Martin operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments. The defense giant is expected to announce its second-quarter results on Tuesday, Jul. 22. Ahead of the event, analysts expect LMT to report a profit of $6.57 per share, down 7.6% from $7.11 per share reported in the year-ago quarter. On a positive note, the stock has outperformed Street's bottom-line estimates in each of the past four quarters. Jeff Bezos Unloads $5.4B in Amazon Shares: Should You Buy or Sell AMZN Stock Now? Elon Musk's Tesla Makes History With 'First Time That a Car Has Delivered Itself to Its Owner' Options Flow Alert: Bulls Making Their Move in GOOGL Stock Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. For the full fiscal 2025, LMT's earnings are expected to come in at $27.27 per share, down 4.2% from $28.47 reported in fiscal 2024. However, in fiscal 2026, its earnings are expected to rebound 9.1% year-over-year to $29.75 per share. Lockheed Martin's stock prices have dropped 4.7% on a YTD basis, notably underperforming the S&P 500 Index's ($SPX) 5.5% gains and the Industrial Select Sector SPDR Fund's (XLI) 12% surge during the same time frame. Lockheed Martin's stock prices observed a marginal uptick after the release of its Q1 results on Apr. 22 and maintained a positive momentum for the next three trading sessions. Continuing the momentum of 2024, the company's revenues for the quarter grew 4.5% year-over-year to $18 billion, exceeding Street's expectations by 1.1%. Its net earnings for the quarter surged 10.8% year-over-year to $1.7 billion, and its EPS of $7.28 surpassed the consensus estimates by 14.8%. Furthermore, the company returned $1.5 billion to shareholders in the form of dividends and share repurchases. The LMT stock holds a consensus 'Moderate Buy' rating overall. Of the 23 analysts covering the stock, opinions include 11 'Strong Buys,' 11 'Holds,' and one 'Strong Sell.' Its mean price target of $525.50 suggests a 13.5% upside potential from current price levels. On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
2 days ago
- Yahoo
Boeing Names Lockheed Martin's Jay Malave as New CFO
Boeing Co. (BA, Financials) appointed Jesus Jay Malave as its new chief financial officer, the aerospace giant said Monday, as the company looks to reset investor confidence amid ongoing operational and regulatory challenges. Warning! GuruFocus has detected 6 Warning Signs with BA. Malave, who will assume the role on August 15, brings decades of experience from the aerospace and defense sector. He most recently served as CFO of Lockheed Martin (LMT, Financials), and previously held senior finance roles at L3Harris Technologies (LHX, Financials) and United Technologies, now part of RTX Corp. (RTX, Financials). He replaces Brian West, who has served as Boeing's CFO since 2021. West will remain with the company in an advisory capacity to support the leadership transition. Boeing shares were down 2.3% at market close Monday as broader defense and aerospace stocks remained mixed. The leadership change comes as Boeing navigates intense scrutiny from regulators, delayed aircraft deliveries, and a string of safety and quality concerns that have weighed on its financial performance and stock price. This article first appeared on GuruFocus.
