However,
Manufacturer f-35 lockheed martin sees:
The American Defense giant announces a sharply decreased net profit in the second quarter. However, due to exceptional expenses linked to defense programs.
The net profit of the American defense group Lockheed Martin tumbled in the second quarter. Similarly, weighed down by exceptional charges of around 1.7 billion dollars. However, Over one year, it fell by almost 80%to US $ 342 million against 1.6 billion in the same quarter last year.
The manufacturer. However, among other things, of the F-35 combat aircraft, recognized that its operating profit was undermined by exceptional elements of around 1.7 billion dollars as part of its programs, according to a statement released on Tuesday.
Lockheed has identified “new developments that have led us to reassess the financial situation of a series of major programs inherited from the past. ” said the group in its press release. “Consequently, we take a manufacturer f-35 lockheed martin sees certain number of measures this quarter to deal with these newly identified risks,” continues the company.
The defense sector in question – Manufacturer f-35 lockheed martin sees
The group has notably experienced “problems” concerning aeronautical contracts classified secrets, generating a loss of $ 950 million.
“The losses on this classified program are important”. Additionally, “taken seriously”, recognized the boss of Lockheed Martin, James Taiclet, during a call with investors on Tuesday
“The company is in talks with the client about a potential restructuring of certain contractual conditions and the expansion of the work of the work which would be beneficial for both parties,” said Lockheed about the program.
Companies in the Defense sector are faced with increasing cost pressures. inflation and disruption of the supply chain resulting in an increase in long -term expenses of long -term programs whose price was set several years ago.
Many of these contracts – often at a fixed price – have been manufacturer f-35 lockheed martin sees negotiated before the post -Pandemia flambé of labor costs. materials and components, which forced businesses such as Lockheed Martin to absorb outbuildings.
In addition to the burden of $ 950 million on the classified program. Lockheed underwent a loss of $ 570 million on his work for the Canadian government concerning the acquisition of its maritime helicopters CH-148 Cyclone.
Over the past three months of the year, the group’s turnover reached $ 18.15 billion, compared to 18.12 billion last year, but below the 18.57 billion expected by the consensus of Factst analysts.
Exploitation of rare land
Lockheed Martin revised down part of his forecasts for the current exercise.
“We have updated our expectations concerning the financial prospects of Lockheed Martin for 2025 in order to integrate the impact of several elements. including the charges (…) of this quarter,” said the group’s financial director during the call with the investors.
Annual turnover forecasts manufacturer f-35 lockheed martin sees are unchanged from the first quarter: around 73.75 to 74.75 billion dollars.
The group declared during the call to investors to expect “tax advantages” thanks to the “big. beautiful law” of Donald Trump, promulgated in early July.
The boss of the group also welcomed the support of the US administration in the mining activities of the company’s. seabed.
“This partnership (…) will guarantee the supply of rare land necessary for F-35”. a single-seater military aircraft built by the group, as well as “cruise missiles”, he said.
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