lockheed martin corp (LMT) Key Developments
Lockheed Martin Corporation Declares Dividend for the Second Quarter 2015, Payable on June 26, 2015
Apr 23 15
Lockheed Martin Corporation board of directors has authorized a second quarter 2015 dividend of $1.50 per share. The dividend is payable on June 26, 2015 to holders of record as of the close of business on June 1, 2015.
Lockheed Martin Corporation, Annual General Meeting, Apr 23, 2015
Apr 22 15
Lockheed Martin Corporation, Annual General Meeting, Apr 23, 2015., at 08:00 US Eastern Standard Time. Location: Lockheed Martin Center for Leadership Excellence Auditorium. Agenda: To consider the election of 11 director-nominees to serve on the board for a one-year term ending at next year's annual meeting; to consider the ratification of the appointment of Ernst & Young LLP, an independent registered public accounting firm, as independent auditors for 2015; to consider the compensation of named executive officers; to consider the two stockholder proposals; and to consider any other matters that may properly come before the meeting.
Lockheed Martin Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 29, 2015; Revised Earnings Guidance for the Year of 2015
Apr 21 15
Lockheed Martin Corporation reported unaudited consolidated earnings results for the first quarter ended March 29, 2015. For the quarter, the company reported net sales of $10,111 million compared to $10,650 million a year ago. Operating profit was $1,356 million compared to $1,432 million a year ago. Earnings before income taxes were $1,266 million compared to $1,348 million a year ago. Net earnings were $878 million or $2.74 per diluted share compared to $933 million or $2.87 per diluted share a year ago. Net cash provided by operating activities was $957 million compared to $2,100 million a year ago. Capital expenditures were $118 million compared to $103 million a year ago.
The company revised earnings guidance for the year of 2015. For the period, the company now expects that net sales will be in the range of $43,500 million to $45,000 million, operating profit will be in the range of $5,350 million to $5,500 million compared to previous guidance of $5,300 million to $5,450 million, diluted earnings per share will be in the range of $10.85 to $11.15 compared to previous guidance of $10.80 to $11.10 and cash from operations will be $5,000 million.
Boeing Co. and Lockheed Martin Corp. Announces Joint Venture to Launch Development of New Rocket
Apr 14 15
A joint venture between Boeing Co. and Lockheed Martin Corp. plans to develop an all-new rocket that will feature reusable engines that could cut down the costs of satellite launches. The companies' United Launch Alliance LLC, which has been relying on Russian-made engines for its rocket, is developing a new booster for its Vulcan rocket that it hopes will be ready by 2023. The companies are also developing a method to use helicopters to retrieve the engines in midair when they detach after launch. The ULA is responding to increasing competition from Elon Musk's Space Exploration Technology Corp., or SpaceX. Boeing's 50% stake in ULA brought $382 million to the company over the past two years, and Lockheed generated earnings of $580 million. Boeing and Lockheed are funding the Vulcan venture themselves, which could coast as much as $3 billion.
NASA Extends Lockheed Martin Space Station Contract
Apr 7 15
Lockheed Martin announced that it will plan, process and pack a steady supply of cargo for the International Space Station (ISS)--ranging from science hardware to food and the crew's personal items--under an extension of NASA's Cargo Mission Contract. Currently, Lockheed Martin maintains more than three million items destined for the station. The team exports and ships about 25,000 pounds of cargo to launch locations around the world annually, including the United States, Russia, Kazakhstan and Japan. The company also processes flight crew equipment, which includes buying, maintaining and preparing items for the ISS crew such as clothing, housekeeping and personal care items, laptop computers and audio-visual equipment. The one-year extension is valued at USD 23 million. This is the second of four options in the original Cargo Mission Contract awarded in December 2010.