CLAIM #37449 · Lockheed Martin Corporation (LMT) · 2023Q2 earnings call · Jul 18, 2023 · due Dec 31, 2027
“MFC should be significantly better than that. And we would expect them to be our highest growth segment.”
Jay Malave · CFO
How to check this claim
Look at: MFC segment net sales growth rate compared to growth rates of other reported segments and total company
It came true if: MFC segment year-over-year sales growth rate exceeds that of every other reported segment and exceeds total consolidated company sales growth rate, for fiscal years 2024-2027
Where: Company segment reporting (10-K/10-Q segment disclosures and quarterly earnings releases)
In context
“on the other segments. Jay you’ve talked a little bit about low single digits, expectation and MFC. I mean if you could walk us through the other segments as we move out into 2024 and beyond and kind of your baseline assumptions for those at this point. And then also, maybe talk a little bit about margins, you made some comments during the quarter about the 1LMX initiative that you have going on, particularly around supply chain, and consolidating your purchasing and maybe getting some better purchasing power and pricing, and just kind of how that's informing your outlook for margins in the future. Jay Malave: Okay, so just start with the growth rates and 24 and beyond. Just to make sure, I was clear, when I said low single digit, I meant for the entire company, total consolidated sales. MFC should be significantly better than that. And we would expect them to be our highest growth segment. And I’ll go from there. The others will see some growth from the remainders, but really, the driver will be MFC over the next few years, given this demand, incremental demand that we’ve seen. On 1LMX, on the margins, we’ve been, this is a initiative for us, which is very significant, it’s more than an ERP upgrade. It’s our engineering tools, product lifecycle tools, it’s our manufacturing execution system tools, it’s our customer relationship management tools, our HR system tools, and it’s intended to make or make us a more competitive company. Many of those benefits that we’re going to obtain, we will pass those through in pricing and our forward pricing rates to our customer. And so we won’t necessarily see some more our margin benefit from it. But it will make us more competitive to ca”
Verify independently
SEC filings for LMT ↗ · Claim quote is verbatim from the 2023Q2 earnings call.