Lockheed Martin Posts Strong Earnings


Three of Lockheed Martin’s four divisions posted an increase in year-over-year sales, with one of its two Orlando-based units being the lone exception.

Saying the company had seen “strong results,” CEO Marillyln Hewson said in a conference call that the quarter represented the work put in by employees.

“These returns reflect the high level of execution being achieved across our businesses,” Hewson said during the call.

The defense giant posted its quarterly earnings report early Tuesday.

Overall, the company took in nearly $200 million more than the previous year.

That was helped by a $3.8 billion deal for 257 Blackhawk helicopters for the U.S. Army and Saudi Arabian National Guard. Lockheed landed that deal early this month.

Lockheed also recently rolled out its first production runs for Japan and Italy, Hewson said.

“These two events underscore the benefits fo multi-national partnerships that have been forged,” she said.

The company also added a $5.6 billion order for its F-35 program, with Hewson saying more orders are expected to come.

Overall, net sales of $12.7 billion during the second fiscal quarter of 2017 outpaced last year’s sales, which reached $11.6 billion.

Net earnings from its operations increased from $899 million to $942 million.

The potential growth in the company’s missile production system is there, as well, Hewson said.

“There is a strong demand in Europe, as well as other parts of the world” for missile defense, she said.

Lockheed’s Missiles and Fire Control division, which is based in Orlando, posted a drop of 3 percent, or $43 million, over last year.

Lockheed is one of the top defense contractors in the U.S., frequently battling for contracts that cover categories like weapons, vehicles and training for the military.

Lockheed, headquartered in Bethesda, Md., has several locations across the country.

It employs more than 7,000 people across three locations in Central Florida, including nearly 1,000 on the Space Coast.

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