Lockheed Martin Secures $514.4M Air Force Contract for Space Vehicles
LMT sits 34% above its 52-week low of $410.11.
Summary
Lockheed Martin's space unit secured a $514.4 million contract modification from the U.S. Air Force for the production of Space Vehicles 23 and 24. This boosts the total contract value to $4.68 billion, with work extending through November 2032. The new award adds to the company's significant backlog, following other large defense contracts in recent months. This provides long-term revenue visibility, which is important given the Q1 2026 report of declining net earnings and negative free cash flow.
At the time of this announcement, LMT was trading at $547.58 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $126.5B. 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 7 out of 10. Source: Dow Jones Newswires.