Lockheed Martin reports strong Q2 2023 results and raises full-year outlook

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Lockheed Martin recorded strong second-quarter results for 2023 and an increased outlook for the full year. 

The company reported net sales of $16.7 billion, marking a significant increase from $15.4 billion in the same period last year. Net earnings for the quarter were $1.7 billion, or $6.63 per share, compared to $309 million, or $1.16 per share, in the second quarter of 2022. 

“Lockheed Martin delivered strong financial results in the second quarter, with a record backlog of $158 billion and 8% sales growth year-over-year,” said Lockheed Martin Chairman, President and CEO Jim Taiclet.  

Lockheed Martin’s array of orders in the second quarter included securing lot 17 production and delivery services of the F-35 Lightning II and the purchase of PAC-3 missiles and GMLRS rockets, respectively fired by the Patriot air defense system and the HIMARS multiple rocket launcher. The last two platforms have been used by Ukraine in its fight against Russia’s invasion. 

Lockheed Martin disclosed its aircraft delivery numbers for the second quarter, comparing the figures to the same period last year. Here is a summary of the deliveries: 

AircraftQ2 2023Q2 2022
F-3545 units35 units
F-16No deliveries No deliveries 
C-130J4 units6 units
Government helicopter programs11 units 25 units 
Commercial helicopter programs1 unit No deliveries 
International military helicopter programsNo deliveries5 units 
Lockheed Martin Q2 2023 deliveries

Lockheed Martin has adjusted its full-year sales and earnings per share outlook for 2023 in light of its robust year-to-date performance and the continued strong demand for its products. The company now expects higher figures than previously projected.  

The revised outlook indicates that net sales are estimated to range between approximately $66.250 billion and $66.750 billion, compared to the previous projection of approximately $65 billion to $66 billion. 

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