US Navy Gives Lockheed Martin's Wallet A Lift With $7.8B F-35 Contract Modification

Lockheed Martin Corp LMT has secured a ~$7.8 billion contract modification from the U.S. Navy.
The modification exercises options for the production and delivery of 126 Lot 17 F-35 aircraft to include 81 F-35A aircraft, 26 F-35B aircraft and 19 F-35C.
It also exercises options to provide for air system diminishing manufacturing sources integration, software data loads, critical safety items, and red gear for the Air Force, Marine Corps, Navy, non-Department of Defense participants, and Foreign Military Sales customers.
Additionally, LMT announced it secured a $615 million full-rate production contract to manufacture additional HIMARS launchers and associated equipment from the U.S. Army.
Lockheed Martin builds HIMARS at its Precision Fires Center of Excellence in Camden, Arkansas.
LMT secured another contract from the U.S. Army, a not-to-exceed $4.79 billion contract to manufacture two full-rate production lots of GMLRS rockets and associated equipment.
The contract calls for production and integrated logistics support for the U.S. Army and international partners. It will be completed in 2026.
Price Action: LMT shares closed lower by 0.12% at $464.45 on Friday.