Lockheed Martin Wins $2.2B Navy Contract for F-35 Sustainment
LMT sits 32% above its 52-week low of $410.11.
Summary
Lockheed Martin secured a $2.2 billion contract from the U.S. Navy for F-35 Lightning II Joint Strike Fighter Air Systems services and sustainment. This significant award covers F-35 systems for the Air Force, Marine Corps, Navy, and foreign military sales customers, extending through December 2028. The deal adds to Lockheed's robust backlog, following other major contract wins in recent months, including a $4.8 billion Army contract in April. This contract ensures continued revenue and support for a critical defense program.
At the time of this announcement, LMT was trading at $540.98 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $124.6B. 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.