State Dept Clears $24.3B F-35 Sale to Saudi Arabia
LMT sits 23% above its 52-week low of $437.25.
Summary
The State Department approved a potential $24.3B sale of 48 F-35 jets and 49 engines to Saudi Arabia, a major foreign military sale for Lockheed Martin. This is a significant new order that would add to the company's already record $230.4B backlog. The deal still requires congressional approval, but the administration's clearance is a key step. This follows a string of large contract wins this year, including $58.6B for PAC-3 interceptors and $35B for THAAD. The F-35 program is a core profit driver, and this sale would extend production visibility well into the next decade.
At the time of this announcement, LMT was trading at $538.04 on NYSE in the Manufacturing sector, with a market capitalization of approximately $124.2B. The 52-week trading range was $437.25 to $692.00. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Seeking Alpha.