Lockheed (LMT) Secures $440M Contract for F-35 Program

Zacks03-28

Lockheed Martin Corporation LMT recently secured a modification contract for its F-35 aircraft. The award has been given by Naval Air Systems Command, Patuxent River, MD. Details of the Deal Valued at...

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The award has been given by Naval Air Systems Command, Patuxent River, MD.\nDetails of the Deal\nValued at...</p>\n\n<a href=\"https://finance.yahoo.com/news/lockheed-lmt-secures-440m-contract-122600949.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Lockheed (LMT) Secures $440M Contract for F-35 Program</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLockheed (LMT) Secures $440M Contract for F-35 Program\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-28 20:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/lockheed-lmt-secures-440m-contract-122600949.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Lockheed Martin Corporation LMT recently secured a modification contract for its F-35 aircraft. The award has been given by Naval Air Systems Command, Patuxent River, MD.\nDetails of the Deal\nValued at...</p>\n\n<a href=\"https://finance.yahoo.com/news/lockheed-lmt-secures-440m-contract-122600949.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1988902786.USD","symbol_name":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/lockheed-lmt-secures-440m-contract-122600949.html","article_id":"2422113535","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/7aM41.4Qe6nbSm0YNj4neA--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/4bd1256130a5e901b3c5ac1f32c5266a"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2422113535","pubTimestamp":1711628760,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Lockheed Martin Corporation LMT recently secured a modification contract for its F-35 aircraft. The award has been given by Naval Air Systems Command, Patuxent River, MD.Amid the geopolitical tensions prevalent across the globe, nations are rapidly augmenting their defense spending to procure more fighter jets. This, in turn, has been bolstering the prospects of the military aviation industry. Per a report by the Expert Market Research firm, the global military aircraft market is estimated to record a CAGR of 5.10% during 2024-2032.Such projections indicate immense growth opportunities for prominent combat jet manufacturers like Lockheed. The company’s fighter jet portfolio includes C-130 Hercules, F-16 Fighting Falcon and F-22 Raptor, in addition to F-35 jets. During 2023, around 40% of Lockheed’s sales came from the Aeronautics segment, which manufactures these fighter jets.A few other defense players that can gain from the expanding military aircraft market are Airbus SE EADSY, Boei","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET  INCOME \"A\" (USDHEDGED) INC (M)","BK4588":"碎股","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","BK4551":"寇图资本持仓","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","BA":"波音","LMT":"洛克希德马丁","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","EADSY":"空中客车集团","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","NOC":"诺斯罗普格鲁曼","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","BK4516":"特朗普概念","BK4564":"太空概念","BK4187":"航天航空与国防","BK4532":"文艺复兴科技持仓","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD"},"translate_title":"洛克希德公司获得4.4亿美元的F-35项目合同","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NOC":1,"EADSY":1,"LMT":1,"BA":1},"content_text":"Lockheed Martin Corporation LMT recently secured a modification contract for its F-35 aircraft. The award has been given by Naval Air Systems Command, Patuxent River, MD.\nDetails of the Deal\nValued at $439.9 million, the contract is expected to be completed by December 2029. Per the terms of this deal, Lockheed will provide logistics and support with respect to the F-35A, F-35B and F-35C aircraft.The agreement includes the provision of support equipment, pilot flight equipment and post-ejection survival training material, as well as associated administrative, contract management, planning and readiness reviews and non-recurring introduction to service support in support of site activation and initial sustainment activities.Majority of work related to this deal will be executed in Redondo Beach, CA. The contract will serve the U.S. Air Force, Marine Corps, Navy, non-Department of Defense participants and Foreign Military Sales customers.\nSignificance of F-35 Jets\nLockheed’s F-35 is the most lethal, survivable and connected fighter jet in the world. It has the ability to securely connect high-tech platforms to share information across every domain, air, land, sea, space and cyber. The aircraft comes in three main variants - F-35A (conventional takeoff and landing), F-35B (short take-off and vertical landing) and F-35C (carrier-based).Such remarkable features of this fighter jet are likely ushering in solid contract wins for LMT, like the latest one. Consequently, the F-35 program remains a major revenue contributor for the United States’ largest defense contractor.Evidently, the F-35 program was the largest revenue generator for Lockheed’s Aeronautics business unit, accounting for 64% of the segment’s net sales in 2023 and 26% of LMT’s total consolidated net sales. Lockheed has delivered 992 F-35 airplanes since the program's inception, with 373 jets in the backlog as of Dec 31, 2023.  LMT expects to deliver 147-153 jets in 2024 and 156 in 2025 and beyond. This, along with the latest contract win, reflects the solid demand that the F-35 program enjoys in the combat jet market.\nGrowth Prospects\nAmid the geopolitical tensions prevalent across the globe, nations are rapidly augmenting their defense spending to procure more fighter jets. This, in turn, has been bolstering the prospects of the military aviation industry. Per a report by the Expert Market Research firm, the global military aircraft market is estimated to record a CAGR of 5.10% during 2024-2032.Such projections indicate immense growth opportunities for prominent combat jet manufacturers like Lockheed. The company’s fighter jet portfolio includes C-130 Hercules, F-16 Fighting Falcon and F-22 Raptor, in addition to F-35 jets. During 2023, around 40% of Lockheed’s sales came from the Aeronautics segment, which manufactures these fighter jets.\nPeer Opportunities\nA few other defense players that can gain from the expanding military aircraft market are Airbus SE EADSY, Boeing BA and Northrop Grumman NOC.   Airbus’ military aircraft consists of A400M, C295 tactical transporter, the new-generation A330 Multi Role Tanker Transport and Eurofighter, the most advanced swing-role fighter ever conceived. In 2023, 61% of the Defence and Space segment’s revenues came from military air systems. The company delivered a total of 1,783 military aircraft as of Dec 31, 2023.EADSY boasts a long-term (three-to-five years) earnings growth rate of 12.4%. The Zacks Consensus Estimate for Airbus’ 2024 sales indicates an improvement of 9.5% from that reported in 2023.Boeing’s product portfolio includes a range of combat-proven aircraft like the F/A-18 Super Hornet, P-8, C-17 Globemaster III, EA-18G and a few more. In 2023, Boeing delivered 22 F/A-18s, nine F-15s, three T-7A Red Hawks and 11 P-8 models.BA boasts a long-term earnings growth rate of 4%. The Zacks Consensus Estimate for Boeing’s 2024 sales indicates an improvement of 13.1% from that reported in 2023.Northrop Grumman has built some of the world’s most advanced aircraft, ranging from the innovative B-2 Spirit stealth bomber to the game-changing E-2D Advanced Hawkeye. The significant awards in 2023 won by NOC included $2.1 billion for F-35 programs, $1.7 billion for E-2 and $1.5 billion for Triton.NOC boasts a long-term earnings growth rate of 10.1%. The Zacks Consensus Estimate for Northrop Grumman’s 2024 sales indicates an improvement of 4.6% from that reported in 2023.\nPrice Performance\nIn the past three months, shares of LMT have gained 0.8% against the industry’s 3.6% decline.\nImage Source: Zacks Investment Research\nZacks Rank\nLockheed Martin currently has a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nThe Boeing Company (BA) : Free Stock Analysis Report\nLockheed Martin Corporation (LMT) : Free Stock Analysis Report\nNorthrop Grumman Corporation (NOC) : Free Stock Analysis Report\nAirbus Group (EADSY) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2422113535"}