(LMT) raked in $15.1B in net sales for the first quarter of 2023. A total of $6.23B was generated by its aeronautics business alone. On April 18, the company released its showing net earnings of $1.7B, the same as the prior-year period, and a revenue growth of 0.67% year-over-year. , chairman, president and CEO of Lockheed, attributed the revenue in part due to space exploration and aircraft upgrade contracts. Free cash flow totaled $1.3B by the end of Q1, while cash from operations was $1.6B. Lockheed reaffirmed its 2023 full year outlook, estimating sales in the $65B to $66B range and earnings of $26.60 to $26.90 per share. (GovConWire 04/18/23)
Regional Note: Lockheed has numerous operations with the region, including a subassembly plant in Meridian, Miss., for over 50 years, which began production operations in August 1969. The Meridian facility has been involved in the production of aircraft components for the JetStar, C-5 Galaxy and C-141 Starlifter strategic airlifters; the P-3 Orion submarine hunter, F-22 Raptor fighter jet and the C-130J Super Hercules tactical airlifter. Additionally, Lockheed Martin operates the Mississippi Space & Technology Center, an advanced propulsion, thermal, and metrology facility located at the John C. Stennis Space Center.
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