By Garrett Reim2021-07-26T23:14:00+01:00
Lockheed Martin took a $225 million loss on an unspecified classified programme within its aeronautics business segment during the second quarter of 2021.
The manufacturer offered few details during a recent earnings call and in a financial filing released on 26 July, but says the development programme could eventually be “significant for the company”.
Source: US Air Force
Lockheed Martin says the classified aeronautics development effort that took a loss could be a production programme one day
“We have experienced performance issues on a classified fixed-price incentive fee contract that involves highly complex designs and systems integration at our aeronautics business segment,” Lockheed Martin says in a financial disclosure filed with the Securities and Exchange Commission on 26 July.
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