CLAIM #37387 · Lockheed Martin Corporation (LMT) · 2022Q4 earnings call · Jan 24, 2023 · due Dec 31, 2024
“So as I mentioned in my prepared remarks, we've got about -- we had orders of about $1.5 billion. We'll start delivering on some of that in 2023, and that will carry over into 2024.”
Jay Malave · CFO
In context
“software on a full rate production program, which is a pretty aggressive schedule. And so what I would expect -- and this is included in our sustainment revenue growth projections, we'll see the retrofits on the existing fleet over time. And that will probably start beginning maybe sometime in 2024 and beyond, and its part of our mid-single-digit sustainment growth on the F-35. Operator: Next, we'll go to Matt Akers with Wells Fargo. Please go ahead. Matt Akers: Good morning. Thanks for squeezing me in. I wanted to ask, I think you had mentioned some of the restocking of stuff Ukraine and you've got some orders there. How big is that for Lockheed Martin? And how should we think about sort of the timing? And how accretive that might be the growth maybe in '24 and beyond? Jay Malave: Yes. So as I mentioned in my prepared remarks, we've got about -- we had orders of about $1.5 billion. We'll start delivering on some of that in 2023, and that will carry over into 2024. We've got a line of sight to significantly more orders beyond that, that we'll see again in the outer years. And so it's still to be determined. But what I can say is that we have had contract funding and internally funded projects to make sure we can meet higher ramp rates, whether it's HIMARS, GMLRS, PAC-3, all of those, all are opportunities from where we are today and part of the investment that our customer is making and that we are making to drive the higher ramp rates. Jim Taiclet: Yes. And Matt, it's Jim. One of the issues that this situation has illuminated with is that when you need to accelerate production in the defense enterprise for national defense, we would have liked to have been able to A, ramp up the production faster and B, bringing the revenue sooner. So it just highl”
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SEC filings for LMT ↗ · Claim quote is verbatim from the 2022Q4 earnings call.