Lockheed, Pentagon reach handshake deal for next 2 F-35 production lots

Lockheed, Pentagon reach handshake deal for next 2 F-35 production lots
Lockheed, Pentagon reach handshake deal for next 2 F-35 production lots

The so-called “handshake deal” precedes a formal contract finalization, which Lockheed expects will occur before the end of 2024.

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Prolonged F-35 negotiations take a bite out of Lockheed Martin’s third quarter results

Prolonged F-35 negotiations take a bite out of Lockheed Martin’s third quarter results
Prolonged F-35 negotiations take a bite out of Lockheed Martin’s third quarter results

Lockheed CEO Jim Taiclet said it was “essential for the health of [its] lower tier suppliers” to keep F-35 production going at pace, even if the company has to use its own money for now.

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Lockheed could see $1B financial ‘impact’ this quarter as F-35 negotiations drag on

Lockheed could see $1B financial ‘impact’ this quarter as F-35 negotiations drag on
Lockheed could see $1B financial ‘impact’ this quarter as F-35 negotiations drag on

“Given where we are in that negotiation, we don’t expect to be completed by the end of this quarter, and that will cause an impact in the quarter — up to about $500 million in sales, and potentially about $500 million of cash flow in the quarter,” Lockheed’s Chief Financial Officer Jay Malave said.

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Lockheed expects more F-35 upgrade delays, tempering 2024 deliveries

Lockheed expects more F-35 upgrade delays, tempering 2024 deliveries
Lockheed expects more F-35 upgrade delays, tempering 2024 deliveries

As many as 120 F-35s could be “undelivered” in 2024 as a result of delays with the stealth fighter’s Technology Refresh 3 upgrade, according to Lockheed Martin Chief Financial Officer Jay Malave.

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