CLAIM #37341 · Lockheed Martin Corporation (LMT) · 2022Q4 earnings call · Jan 24, 2023 · due Jan 24, 2025
“We continue to expect growth in classified that will outpace the rest of the portfolio over the next several years.”
James Taiclet · CEO
In context
“lion miles through deep space and surpassed records for total distance. It traveled 270,000 miles from home and the farthest distance from earth by a spacecraft designed to carry humans. We look forward to the next stages of the program with seven additional missions under contract. Turning to hypersonics. In December, Lockheed Martin Missiles and Fire Control and the U.S. Air Force successfully conducted a hypersonic-boosted flight test of the Air-Launched Rapid Response Weapon. This was the first launch of a full prototype operational missile, meeting all its objectives for the test, including reaching speeds of greater than 5 times the speed of sound. With regard to classified programs, we achieved successful milestones across multiple business areas in 2022 and grew 5% year-over-year. We continue to expect growth in classified that will outpace the rest of the portfolio over the next several years. And finally, at new awards, Lockheed Martin's Next-Generation Interceptor, or NGI, continues to make progress. In late October, we announced the delivery of the first NGI flight software package to the Missile Defense Agency, providing the framework of software development tools, process workflows, scripts and environments. The delivery was ahead of schedule and is a critical step on the path for flight testing and fielding. This program remains a focused competition for Lockheed Martin with the first NGI forecast for delivery in 2027. With regard to the Future Long Range Assault Aircraft, or FLRAA, competition, we were disappointed in the U.S. Army's decision. And upon review, we determined a formal protest by Sikorsky on behalf of Team Defiant to be the best course of action. We continu”
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SEC filings for LMT ↗ · Claim quote is verbatim from the 2022Q4 earnings call.