Lockheed Martin forecast 2025 profit that missed Wall Street expectations on Tuesday, as the defense giant grapples with delayed rollouts of a tech upgrade on the F-35, underscoring a cautious tone for the year amid rising global tensions.
Shares of the company fell about 4% in premarket trading.
U.S defense contractors are seeing a surge of weaponry demand as a result of the Russia-Ukraine war and conflicts in the Middle East, but are straining to meet demand amid a slower recovery in pandemic-related supply issues.
The Bethesda, Maryland-based company expects profit per share between $27 to $27.30 in 2025, missing analysts’ average estimate of $27.92 per share, according to LSEG data.
Lockheed posted net income of $527 million, or $2.22 per share, a 71% slide from a year ago, as it booked $1.29 billion in losses associated with classified programs at its aeronautics and missiles and fire control business units.
Source: FINANCE.YAHOO
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