CLAIM #37418 · Lockheed Martin Corporation (LMT) · 2023Q1 earnings call · Apr 18, 2023 · due Dec 31, 2026
“So for PAC-3 capacity 2022 is 450 and we're planning to make the investments and working with government to coordinate with us on this to 550 by 2026.”
James Taiclet · CEO
How to check this claim
Look at: PAC-3 annual production capacity
It came true if: Company-disclosed PAC-3 capacity >= 550 units per year
Where: Company disclosures / management commentary (earnings call or investor materials referencing PAC-3 capacity)
In context
“mentioned some of the funding that is being proposed in the Presidential budget request for facilitation investments. We've also invested our own money’s and capability PAC-3 is a good example. I mean, a few other programs where we've got in front of funding to make sure that we can deliver to the requirements for capacity and delivery requirements that our customers asking for. And so, again, I think we've got a good beat there. We've talked about different capacity levels over the next few years. We reached some of these levels in ‘25, ‘26 and ‘27. And that investment really between now and over the next few years is going to help enable that capacity increase in growth as well. Jim Taiclet: Yes. And it's Jim, Matt. I could give you some details on exactly what we're talking about here. So for PAC-3 capacity 2022 is 450 and we're planning to make the investments and working with government to coordinate with us on this to 550 by 2026. So just three years from now, we'll go from 450 to 550. And then similar with the Javelin, which has been pretty widely discussed in the past. Our 2022 capacity was about 2,000 a year and by 2026, we'll have 3,500 plus, and ultimately, we're going to get to 4,000. When it comes to GMLRS, which is the HIMARS munition, the original capacity last year was 10,000. We're taking that to 14,000 by 2026. So these are meaningful step-ups, I guess you could call them in capacity and we're doing those, because we think we have a really strong demand for that capacity to fill it. And we're now programing, which customers go where and what point in time and working with the U.S. government to do that with -- along with their own priorities. So, we've got a significant plan to grow the business at MFC.”
Verify independently
SEC filings for LMT ↗ · Claim quote is verbatim from the 2023Q1 earnings call.