Lockheed Posts 5% Sales Growth for Q2; James Taiclet Quoted

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Lockheed Martin (NYSE: LMT) reported fiscal year 2021 second quarter sales of $17 billion, up 5 percent from the prior year period.

The Bethesda, Maryland-based company said Monday its earnings for the quarter were $6.52 per share, or $1.8 billion, representing a 73 cents per share growth over results a year ago.

Lockheed’s aeronautics segment earned the highest Q2 sales among its four businesses at $6.6 billion, a 3 percent increase that the company primarily attributed to the F-16 program. The segment, however, experienced a $225 million loss or $0.61 per share due to performance issues related to a classified program.

Capital expenditures for the quarter reached $318 million and cash dividends were $721 million.

The company also repurchased 1.3 million shares for approximately $500 million as part of an accelerated share buyback program.

“In my first year leading our company, I’m proud of the extraordinary resolve demonstrated by our 114,000 team members to rise above the challenges of the pandemic in support of our customers, our nation and our allies,” said James Taiclet. chairman, president and CEO of Lockheed.

“This is reflected in our solid sales growth across each business area this quarter,” added Taiclet, a 2021 Wash100 Award recipient.

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SOURCEGovCon Wire
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