The Colorado Springs Gazette final

LOCKHEED

the CEO added.

“Management laid out a meaningfully lower growth profile than previously indicated, and growth is a key metric in Defense right now,” Seth Seifman, a Jpmorgan analyst said in a research note, adding, “the potential silver lining the market may ultimately begin looking for here is that today’s hit to the outlook is drastic enough to set up potential beats going forward.”

On the call with analysts, Taiclet said the company’s sales would go up again in 2023 and increase steadily through 2026.

He also said Lockheed now sees its planned purchase of rocket maker Aerojet Rocketdyne closing in the first quarter of 2022, a bit later than previously expected.

Support for the defense industry could be on the way as congressional committees are set to start their conference on the Biden administration’s 2022 defense policy bill that outlines increased spending.

Lockheed, however, raised its earningsper-share guidance for 2021 to $22.45, more than analyst estimates of $22.19, as operating profits rose 6.6% versus the same period last year.

The third quarter which ended on Sept. 26 showed sales at Lockheed’s largest unit, aeronautics, down 2% from a year earlier, when the pandemic locked down many parts of the defense industry’s supply chain.

Through Sept. 26, the unit made 90 F-35 deliveries, with 36 occurring in the third quarter. Lockheed aims to deliver 133 to 139 of the stealthy jets this year.

BUSINESS

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2021-10-27T07:00:00.0000000Z

2021-10-27T07:00:00.0000000Z

https://daily.gazette.com/article/281943136094142

The Gazette, Colorado Springs