Lockheed Martin beat profit expectations, raised its full-year forecast and reached a record $292 billion backlog as sales grew across all 4 business areas. The F-35 plan still needs funding and final contracts, but results and expected demand support a stronger outlook.
More defense orders could keep Lockheed Martin's factories busy and support sales for years. Sales grew across all 4 business areas, and the company expects defense spending to remain high. The F-35 plan adds possible work, but final prices and awards still depend on funding, Congress and negotiations.
L3Harris received a $4.7 billion contract for PAC-3 propulsion, adding missile-production work and supporting a stronger outlook.
Boeing received a $14.7 billion contract to triple PAC-3 seeker production, adding defense work and supporting a stronger outlook.
Northrop Grumman received a $1.6 billion contract for propulsion and other missile parts, adding defense work and supporting a stronger outlook.
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