Canada to Buy $1.8 Billion in Himars Missile Launchers from Lockheed Martin
LMT sits 25% above its 52-week low of $410.11.
Summary
Canada has agreed to purchase 26 Himars missile launchers from Lockheed Martin for $1.8 billion USD. This significant international order adds to Lockheed Martin's backlog and revenue pipeline, reinforcing its position as a key defense supplier. The deal, negotiated in January, was just disclosed and follows a period of other large contract wins for the company, including a $4.8 billion U.S. Army contract and a potential $3 billion helicopter sale to South Korea. This new contract helps offset the decline in Q1 net earnings and negative free cash flow reported in April.
At the time of this announcement, LMT was trading at $513.43 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $118.4B. The 52-week trading range was $410.11 to $692.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.