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CLAIM #37392 · Lockheed Martin Corporation (LMT) · 2023Q1 earnings call · Apr 18, 2023 · due Dec 31, 2023

However, we do expect a fraction of total expected 2023 deliveries to be impacted later this year, due to both software maturation related to Technology Refresh 3 or TR3 and hardware delivery timing.

James Taiclet · CEO

CANNOT_DETERMINE
resolved by a revision, graded at the moved level · official band 5 percent
Committed
we do expect a fraction of total expected 2023 deliveries to be impacted later this year, due to both software maturation related to Technology Refresh 3 or TR3 and hardware delivery timing
Reported
Our current view is we expected to deliver 100 to 120 F-35 aircraft in 2023.

In context

ns. We are encouraged by this initial request and look forward to its progression through the authorization and appropriations process. We also anticipate heightened emphasis on national security prioritization from Congress, supplemental spending requests including Ukraine and elevated demand from allies and partners. Turning to the F-35 program, the 83 F-35 Lightning II aircraft included in the PBR signaled strong support from the services and the administration. Moreover, the Canadian government's January announcement that it will procure 88 F-35s marks another milestone in continued international demand for the aircraft. As to production, deliveries of F-35 engines which are government furnished equipment resumed in February. And then flight operations and deliveries resumed in March. However, we do expect a fraction of total expected 2023 deliveries to be impacted later this year, due to both software maturation related to Technology Refresh 3 or TR3 and hardware delivery timing. However, we anticipate little to no revenue impact from any potential delivery delay and therefore no material adverse effect on our 2023 P&L. Jay will provide some more color on this in a moment. Also at Aeronautics, the first Greenville built F-16 Block 70 took flight and was delivered to Bahrain. In addition to the Bahrain customer six countries have selected Block 70 or 72 aircraft and Jordan and Bulgaria have signed letters of agreement for additional jets. Further related to the F-16 in the quarter, while I was at the U.S.-India CEO form in March, I had the privilege to announce the memorandum of understanding with the Tata Lockheed Martin Aero Structure Limited joint venture to produce F-16 wing structures in India demonstrating our commitment to India as an industry partner and cu

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SEC filings for LMT · Claim quote is verbatim from the 2023Q1 earnings call.