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CLAIM #37360 · Lockheed Martin Corporation (LMT) · 2022Q4 earnings call · Jan 24, 2023 · due Dec 31, 2024

And so we're going to see gradual improvement in supply chain as well as our internal operations in '23 with stronger growth in 2024.

Jay Malave · CFO

PENDING
graded after results covering Dec 31, 2024 are reported

In context

-single-digit decline in production as deliveries catch up to the material that we had purchased in prior years. Similarly, on the F-16, we're going to see continued growth in production to roll out our backlog, but we are seeing a reduction in modernization and sustainment programs on the F-16. So as those -- both of those normalize in 2023 going into 2024, they will no longer be headwinds, which will continue to allow for growth in Aeronautics, particularly in the F-35 sustainment and on F-16 production. Similarly, like MFC, what we saw in 2022 and it carries over a little bit to 2023 is some of the areas where we see the higher demand from a production level, particularly in programs of record, things like PAC-3, it's taken us a little bit longer than we originally expected to ramp up. And so we're going to see gradual improvement in supply chain as well as our internal operations in '23 with stronger growth in 2024. At RMS, CH-53 will double deliveries in '24 versus '23. And '23 versus '22 is pretty much flat deliveries. We also see probably some Black Hawk growth in '24 as well. And what we're going through right now is the transition for multiyear 9 to multiyear 10 in RMS and Sikorsky specifically. So those are all things that we think will lift from '24 relative to '23, and those are headwinds that are really unique to 2023. Jim Taiclet: Yes. And as far as where the defense budget came out, David, it really aligns with our view in our company about the nature of the geopolitical threat, the need to modernize U.S. and allied forces to continue to hopefully deter armed conflict beyond the sad and unfortunate situation in the Ukraine that's already happened and the fact that there's bipartisan suppor

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SEC filings for LMT · Claim quote is verbatim from the 2022Q4 earnings call.