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Here's how the Pentagon's top weapon supplier did
The weapon supplier's F-35 has become one of the most challenged programs in the history of the Department of Defense.
A F-35B aircraft approaches a KC-130J Super Hercules aircraft to re-fuel as it flies over the North Sea having taken off from RAF Fairford on July 1, 2016
December 12Lockheed Martin's stock down from $251
Once more, the tweet sent shockwaves through the defense industry. Shares of Lockheed Martin fell 2% to $247.75
kheed Martin CEO Marillyn Hewson, who spoke with Trump twice prior to his inauguration, said the F-35 is "absolutely unmatched" in capability during an earnings call on Tuesday.
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Adding that the meetings with Trump have been "very productive," Hewson noted that the defense giant has a lot of ideas on how to cut costs in the future.
In the meantime, the Department of Defense and Lockheed Martin will continue negotiations on LRIP-10, a contract worth $9 billion for the delivery of 90 F-35 jets.
"We're very close to a deal that would allow us to close LRIP-10 in the near-term and so I expect that will be very soon," Hewson said.
Now for the earnings ...
For the quarter that ended December 31,
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Despite significant snags in developing the fifth-generation jet, sales in Lockheed Martin's aeronautics business, the company's largest segment, rose 23 percent to $5.41 billion, compared to the same period in 2015, thanks to an increase in F-35 sales.
Meanwhile, revenue in Lockheed Martin's rotary and mission systems segment surged 37 percent due to the addition of helicopter manufacturer Sikorsky.
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