Lockheed Martin Corporation reported solid Q2 2024 financial results with net sales increasing 9% to $18.1 billion, compared to $16.7 billion in Q2 2023. Net earnings were $1.6 billion ($6.85 per share), while operating margin remained stable at 11.9%. The company's backlog stood at $158.3 billion at quarter-end, with approximately 36% expected to be converted to sales within 12 months.All business segments delivered growth, with Rotary and Mission Systems leading at 17% increase to $4.5 billion, followed by Missiles and Fire Control up 13% to $3.1 billion. Aeronautics sales rose 6% to $7.3 billion, driven by higher F-35 program volume. The company recorded $87 million in impairment and severance charges related to its Sikorsky business review following the cancellation of the FARA program.Looking ahead, Lockheed Martin continues to see strong international demand for F-35 aircraft, with new orders from Korea, Czech Republic, and potential sales to Greece and Singapore. The company began deliveries of TR-3 configured F-35 aircraft in July 2024 and expects to deliver between 75-110 aircraft in the second half of 2024. Supply chain challenges and inflation pressures remain key focus areas for management.

Lockheed Martin Corporation reported solid Q2 2024 financial results with net sales increasing 9% to $18.1 billion, compared to $16.7 billion in Q2 2023. Net earnings were $1.6 billion ($6.85 per share), while operating margin remained stable at 11.9%. The company's backlog stood at $158.3 billion at quarter-end, with approximately 36% expected to be converted to sales within 12 months.All business segments delivered growth, with Rotary and Mission Systems leading at 17% increase to $4.5 billion, followed by Missiles and Fire Control up 13% to $3.1 billion. Aeronautics sales rose 6% to $7.3 billion, driven by higher F-35 program volume. The company recorded $87 million in impairment and severance charges related to its Sikorsky business review following the cancellation of the FARA program.Looking ahead, Lockheed Martin continues to see strong international demand for F-35 aircraft, with new orders from Korea, Czech Republic, and potential sales to Greece and Singapore. The company began deliveries of TR-3 configured F-35 aircraft in July 2024 and expects to deliver between 75-110 aircraft in the second half of 2024. Supply chain challenges and inflation pressures remain key focus areas for management.