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Lockheed Martin Corp (LMT.N)

LMT.N on New York Stock Exchange

259.25USD
8 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Lockheed says don't have plans for F-35 production stepups for H2 2016-Conf Call
Tuesday, 19 Jul 2016 11:59am EDT 

Lockheed Martin Corp : Says on track to deliver 53 F-35s in FY 2016 . Says significant progress towards IS&GS deal closure continues to be achieved; says deal is expected to close by August 2016 . Says demand for F35s remains strong internationally . Says test helicopters on Sikorsky CH-53K King Stallion program continue to progress through series of increasing payload lift weights to validate capabilities . Says expect to close on the F-35 LRIP 9 and 10 contracts soon and recover significant operating cash tied to those negotiations . Says Turkey still remains very valued NATO partner for co; says look forward to continuing co's business relationship with Turkey . Says will continue to assess situation in Turkey and keep shareholders posted if there's any impact on business . Says income from FAS/CAS in 2016 is about $975 mln; says 2017 income from FAS/CAS would be about $400 mln lower than 2016 . Says required pension contribution in 2018 would be little higher than $1.5 bln . Says, however, sees much stronger cash flows from Sikorsky and F-35 program in 2018 vs 2016 . Says don't have plans for F-35 production stepups for H2 2016, and it could cause second half to look little lighter than H1 2016 . Says F-35 volume level is expected to be higher in H2 2016, and will have dilutive effect on overall margins of Aeronautics biz Further company coverage: [LMT.N] (Bengaluru Newsroom: +1-646-223-8780).  Full Article

Lockheed Martin Q2 earnings per share $3.32
Tuesday, 19 Jul 2016 07:25am EDT 

Lockheed Martin Corp : Lockheed Martin reports second quarter 2016 results . Currently negotiating final contract terms with a customer and expects to receive additional funding by end of 2016 . Expects operations of IS&GS business to separate, merge is&gs business with Leidos Holdings Inc to close in Q3 of 2016 . Lockheed Martin reports second quarter 2016 results . Q2 earnings per share $3.32 . Q2 sales $12.9 billion versus I/B/E/S view $12.55 billion . Q2 earnings per share view $2.93 -- Thomson Reuters I/B/E/S . Increases 2016 outlook for sales, operating profit, earnings per share and cash from operations . Sees FY 2016 earnings per share $12.15 - $12.45 . Sees FY 2016 net sales $50,000 million - $51,500 million .As of June 26, has about $900 million of potential cash exposure, $3.0 billion in termination liability exposure related to F-35 LRIP 9,10 contracts.  Full Article

Bravo Industries to buy 10 LM-100J commercial freighters from Lockheed Martin
Tuesday, 12 Jul 2016 06:52am EDT 

Lockheed Martin Corp : Bravo Industries announces purchase of 10 LM-100J commercial freighters from Lockheed Martin .Bravo MRO will operate LM-100J for air cargo operations in Brazil.  Full Article

Lockheed Martin initiates exchange offer for IT and Technical Services businesses
Monday, 11 Jul 2016 04:05pm EDT 

Lockheed Martin Corp : Lockheed martin initiates exchange offer for it and technical services businesses . Commencement of an exchange offer for separation of its information systems & global solutions (is&gs) business segment . Co's unit abacus innovations corporation will merge with a subsidiary of leidos and become a wholly-owned subsidiary of leidos . Exchange and merger are expected to be tax-free to participating lockheed martin stockholders for u.s. Federal income tax purposes . Stockholders with opportunity to exchange shares of co for abacus shares, which will convert into leidos shares on completion of merger . Offering to exchange all of nearly 77 million shares of common stock of abacus for shares of co validly tendered, not properly withdrawn . As part of transaction, lockheed martin will also receive a one-time special cash payment of $1.8 billion . Tendering co stockholders expected to receive about $111 in value of abacus common stock for every $100 of co's common stock . Will use special payment to repay debt, pay dividends and/or repurchase its stock . Immediately after completion of deals, about 50.5% of outstanding shares of leidos stock expected to be held by pre-merger abacus .Pre-Merger leidos stockholders expected to hold about 49.5% of outstanding shares of leidos common stock on a fully diluted basis.  Full Article

Lockheed Martin says Sikorsky, PZL Mielec, PFZ ink agreement
Monday, 11 Jul 2016 03:11pm EDT 

Lockheed Martin Corp : Sikorsky, PZL Mielec and Polska Grupa Zbrojeniowa ink new agreement for black hawk co-operation at Farnborough International Airshow .Other Lockheed Martin businesses are currently in discussion with PGZ regarding involvement in numerous programmes.  Full Article

LMT says Sikorsky and Babcock sign 10-yr agreement for support for Babcock's S-92 helicopter fleet
Monday, 11 Jul 2016 08:22am EDT 

Lockheed Martin Corp :Sikorsky and Babcock Mission Critical Services Ltd today signed a 10-year agreement providing babcock's S-92 helicopter fleet with extended support for its aftermarket material needs.  Full Article

Triumph Group, Lockheed Martin sign deal for F-35 components
Friday, 8 Jul 2016 07:00am EDT 

Triumph Group Inc : Says under contracts, Triumph will provide engine mounts, bulkheads, longerons and wing ribs for F-35 through 2021 . Triumph and Lockheed Martin sign long-term agreements for F-35 components .Says new contracts will contribute to organic growth for company.  Full Article

FAA has awarded contract to Lockheed Martin worth $344 mln
Wednesday, 6 Jul 2016 01:03pm EDT 

Federal Aviation Administration: FAA has awarded contract to Lockheed Martin worth $344 million to develop and implement "a new nextgen technology" . Terminal flight data manager to replace paper flight strips air traffic controllers use to share flight plans with electronic flight strips Further company coverage: [LMT.N] ((Bengaluru Newsroom +1 646 223 8780;)).  Full Article

Lockheed Martin elects Ilene Gordon to board of directors
Thursday, 23 Jun 2016 01:05pm EDT 

Lockheed Martin Corp: Gordon is chairman, president and chief executive officer of Ingredion Incorporated .Lockheed Martin elects Ilene Gordon to board of directors.  Full Article

Lockheed Martin declares Q3 2016 dividend of $1.65 per share
Thursday, 23 Jun 2016 01:05pm EDT 

Lockheed Martin Corp :Lockheed Martin Corp says board of directors has authorized a Q3 2016 dividend of $1.65 per share.  Full Article

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Pentagon arms buyer 'hopeful' that Lockheed F-35 block buy will proceed

SIMI VALLEY, Calif. Frank Kendall, the Pentagon's chief arms buyer, said on Saturday he was hopeful that a proposed three-year block buy of Lockheed Martin Corp F-35 fighter jets, expected to generate large savings, would go ahead."I can't say what's in the final budget, but I'm very hopeful that the block buy will proceed as planned, Kendall told Reuters at the annual Reagan National Defense Forum in southern California.