United States

Lockheed Martin Corp (LMT.N)

LMT.N on New York Stock Exchange

29 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Leidos Holdings announces closing of merger with Lockheed Martin's IS&GS business
Tuesday, 16 Aug 2016 01:00pm EDT 

Leidos Holdings Inc : Leidos announces closing of the merger with Lockheed Martin's IS&GS business and election of three new directors .Gregory R. Dahlberg, Surya N. Mohapatra, Susan M. Stalnecker named as 3 new directors to serve on Leidos board, which has 12 directors.  Full Article

Lockheed Martin announces preliminary results of offer for IT services units
Tuesday, 16 Aug 2016 11:15am EDT 

Lockheed Martin Corp : Lockheed Martin announces preliminary results of exchange offer for IT and Technical Services businesses .Expects exchange to result in a reduction of Lockheed Martin common stock outstanding by 9.4 million shares.  Full Article

Leidos shareholders re-elect nine directors at annual meeting
Monday, 8 Aug 2016 09:18am EDT 

Leidos Holdings Inc : Merger is expected to be completed on or about august 16, 2016 .Leidos shareholders overwhelmingly approve requirement necessary to complete lockheed martin transaction, re-elect nine directors at annual meeting.  Full Article

Lockheed Martin says Lifeport has obtained FAA's TSO approval for Stanchion Litter System
Monday, 25 Jul 2016 11:00am EDT 

Lockheed Martin Corp :Says Lifeport has obtained FAA's Technical Standard Order (tso) approval for company's Stanchion Litter System.  Full Article

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

More From Around the Web


Trump administration pursues sale of F-16's to Bahrain: source

WASHINGTON President Donald Trump's administration has informed Congress of its plan to pursue the $5 billion sale to Bahrain of 19 Lockheed Martin F-16 aircraft and related equipment, which was held up last year by concerns about human rights, a congressional source said on Wednesday.