LM net sales reach $66B in 2022

Lockheed Martin’s net sales reached $66B in 2022 with the aeronautics sector accounting for the biggest share, which contributed $26.98B to sales, followed by rotary and mission systems with $16.1B. Space and missiles and fire control each posting $11B, according to the company’s 2022 financial results published Jan. 24. Total income for 2022 was $5.7B. The company returned $10.9B in stock dividends and repurchases to shareholders. Lockheed’s 2023 guidance has the company’s earnings in the range of $26.60 to $26.90 per share and revenue of between $65-66B. (GovWire 01/25/23) Lockheed Posts $66B in Net Sales in 2022; Jim Taiclet Quoted - GovCon Wire 

LION'S SHARE OF CONTRACTS FOR UKRAINE:

Lockheed Martin and Raytheon both saw a boost in sales as the Pentagon accelerated weapons orders to fill the gap left by billions in weapons and equipment sent to Ukraine. The two firms posted 4Q earnings slightly below earnings from the 4Q in 2021. The duo makes up the lion’s share of contracts associated with $27B in U.S. security assistance committed to Ukraine. Remaining top defense contractors General Dynamics and Boeing will report 4Q earnings Wednesday and Northrop Grumman will follow on Jan. 27.

Gulf Coast Note: Lockheed Martin has a significant presence in Mississippi with locations in Biloxi, Stennis, Vicksburg, Meridian, Pascagoula and the Greater Jackson Area. In Louisiana at the NASA Michoud Assembly Facility in East New Orleans.