CLAIM #37332 · Lockheed Martin Corporation (LMT) · 2022Q3 earnings call · Oct 18, 2022 · due Dec 31, 2023
“Well, on the second question, George, we did have a profit adjustment on the F-35 program and the production program there. So, we will see moving forward a higher recurring margin rate there.”
Jay Malave · CFO
In context
“emonstrates that it can be a success and the industry has got to coalesce and help make it happen with us, we, as an industry, will see more of these opportunities in the 2024-plus time frame, too. Operator: Next question is from George Shapiro with Shapiro Research. Please go ahead. George Shapiro: A couple of questions. On the Aeronautics area, Lot 16, you’re not supposed to get in Q4. Jay, does that come with added sales that you may be working on now as well? And then, a second question, if you look at the incremental margin on the profit you provided on the F-35 and the $325 million of sales, it’s like 21%. Does that imply that you increased the margin on the F-35 program? And will that help the margin next year, or is it more than offset by the growth in the sustainment? Jay Malave: Well, on the second question, George, we did have a profit adjustment on the F-35 program and the production program there. So, we will see moving forward a higher recurring margin rate there. As far as Q4 and Lot 16, yes, we do expect that order in the fourth quarter, as Jim mentioned, a little bit over $8 billion. I wouldn’t -- we do expect a ramp-up in sales at aero, including F-35, and that will include F-16. So to answer your question, yes, that will certainly be part of the sales mix here in the fourth quarter. Operator: Next, we’ll go to Rich Safran with Seaport Research Partners. Please go ahead. Rich Safran: Jim, Jay, Greg, Maria, good morning. How are you? Jim Taiclet: Good morning. Rich Safran: So Jim, I heard your opening remarks about uncertainties on the supply chain and all that. And Jay, I’m going to put you a little bit on the spot here. And hopefully, I’ll get you to answer a long-term cash flow outlook question. Because I think last year, you gave a long-term”
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SEC filings for LMT ↗ · Claim quote is verbatim from the 2022Q3 earnings call.