CLAIM #37453 · Lockheed Martin Corporation (LMT) · 2023Q2 earnings call · Jul 18, 2023 · due Dec 31, 2023
“We’ve seen some lower attrition rates, as well as better hiring rates as well. And so we’re fairly confident that that will stick and that also bodes well for the rest of the industry, particularly supply chain.”
James Taiclet · CEO
In context
“the next question comes from the line of Pete Skibitski from Alembic Global Advisors. Please go ahead. Pete Skibitski: Yes, good morning. Can you can you just talk about labor availability and cost, just incrementally from last quarter. Has hiring become easier, just in terms of hiring people? And then also wage rates? Have you seen improvement there? Thanks. Jim Taiclet: Yes, so we’ve actually, over the past six months, our labor availability has improved significantly. We have closed a lot of our key critical skill gaps over this period of time. And that partly has enabled the sales growth, the incremental sales growth that we’ve seen here in our change outlook, because part of that is just our own internal labor. And so we’re in a much better position than we were even six months ago. We’ve seen some lower attrition rates, as well as better hiring rates as well. And so we’re fairly confident that that will stick and that also bodes well for the rest of the industry, particularly supply chain. So we’re encouraged by that. Pete Skibitski: Okay, that’s great. Appreciate the color. Operator: Thank you. Our next question is from Doug Harned from Bernstein. Please go ahead. Douglas Harned: Good morning. Thank you. If I want to go back to missiles and fire control in Ukraine for a minute, because if we think back to the early days of the Russia, Ukraine conflict, there were things like Javelin for you there was of course, stingers, everything looks like it would be kind of a short term need, potentially building out some capacity for replenishment of weapons. And so now we are more than a year later into this. And you’ve gotten some very big awards in this last quarter, that appear to be related to Ukraine, either directly or other European needs. We’re seeing NATO spending go up. Ca”
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SEC filings for LMT ↗ · Claim quote is verbatim from the 2023Q2 earnings call.