Today, defense giant Lockheed Martin issued its 2024 earnings report, recording a full-year sales jump of 5%.
The company recorded net sales of $71.0 billion, compared to $67.6 billion in 2023. Net earnings in 2024 were $5.3 billion, or $22.31 per share.
Jim Taiclet, Lockheed Martin’s Chairman, President and CEO told investors, “In the year, we invested over $3 billion in advancing our nation’s security… Our strong and consistent performance also enabled us to again return greater than 100% of free cash flow to our shareholders in 2024. We also continue to drive collaboration across government and all sectors of American industry to accelerate innovation, improve resilience and integrate emerging technologies to deter, and if necessary to win any potential armed conflict.”
As expected, during the fourth quarter of 2024, the company recorded losses in its Aeronautics and Missiles and Fire Control business segments.
“One of our most critical investments in 2024 was in ensuring continued air superiority for the United States and its allies. We are fully committed to developing a combined air power solution set that integrates new 6th generation with current 5th generation and 4th generation aircraft using wingman drones, AI, advanced sensors in space and in the air, and 5G-level, cyber-hardened data links.”
Looking forward, Lockheed Martin expects to see a boost in defense sales working with Trump.
Taiclet added, “We look forward to working with the incoming administration to best serve our customers with highly reliable, theater-level mission solutions that can win wars while delivering compelling results to our shareholders.”
By CEO NA Editorial Staff
