Lockheed (LMT) reports Q2 net sales of US$15.4 bn, lowers forecast

2 min read | July 19, 2022 10:43 AM PDT | By Mridul Gogoi

Lockheed (LMT) reports Q2 net sales of US$15.4 bn, lowers forecast — Image source: © Luckydoor | Megapixl.com

© Ollyhitchen01 | Megapixl.com

Lockheed cuts full-year guidance

The company lowers its revenue forecast for 2022, citing a drop in sales of F-35 fighter jets due to pandemic-related headwinds.

Lockheed said that quarterly sales at the largest unit, Aeronautics, which manufactures the F-35 jets, tanked 12% to US$5.8 billion.

Barely three months ago Lockheed Martin gave a full-year earnings guidance per share of US$26.70, which is cut on Tuesday by 19% to US$21.55.

Bottom line:

Lockheed’s profits at the Missiles and Fire Control unit were US$418 million. This unit manufactures High Mobility Artillery Rocket System (HIMARS).

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