Lockheed Martin forecast its 2024 profit below Wall Street expectations on Tuesday, as the U.S. defense contractor s largest aeronautics segment that makes the F-35 jets faces supply chain.
Lockheed Martin forecast its 2024 profit below Wall Street expectations on Tuesday, as the U.S. defense contractor s largest aeronautics segment that makes the F-35 jets faces supply chain disruptions.
U.S. defense contractor Lockheed Martin shares are up 2%after reporting better-than-expected third-quarter revenue and profit on Tuesday, as geopolitical tensions fueled sustained demand for its military equipment. During pre-market trading Lockheed shares were down as much as 2.1% due to weak sales in the unit that makes the F-35 fighter jet, but reversed in early trading in New York to $450.52 per share, up 2%. The war in Ukraine has prompted restocking arms and ammunition such as shoulder-fired missiles, artillery and other weaponry, providing U.S. defense companies with lucrative Pentagon contracts.
Lockheed Martin reported
higher third-quarter revenue on Tuesday, as geopolitical
tensions fueled sustained demand for its military equipment. The ongoing war in Ukraine has prompted.
Lockheed shares were down as much as 2.1% due to weak sales in the unit that makes the F-35 fighter jet, but reversed in early trading in New York to $450.52 per share, up 2%