CLAIM #37593 · Lockheed Martin Corporation (LMT) · 2024Q2 earnings call · Jul 23, 2024 · due Dec 31, 2025
“So when you bring all these things together, we think that they generate a path to overcome what we're seeing in the pension and drive us to this target of low single digit.”
Jay Malave · CFO
In context
“e at the moment. Since 2020 or so, that's grown from about 55 days. So there's an element of there kind of the F-35 and what we've gone through over the past couple of years here, but there's also been growth outside of the F-35 that represents a lot of opportunity for us to convert into faster billings at a level that we've been we've been able to demonstrate in the past. And that's what focused with on all of the business areas in terms of driving that on a multiyear basis back down to what we've been able to demonstrate. The next thing I'll say, so besides working capital and contract assets that are biggest opportunity is the reduction of payments related to the tax R&D capitalization. So we'll get in the range, I'd say, about $150 million of benefit just through lower payments there. So when you bring all these things together, we think that they generate a path to overcome what we're seeing in the pension and drive us to this target of low single digit. It's not easy. It's not a slam dunk, but we've got a path to be able to do that, and that's what we're driving today to be able deliver next year and beyond. Operator: Thank you. The next question is from the line of Peter Arment from Baird. Please go ahead. Peter Arment: Thanks. Good morning, everyone, Jim, Jay. Maybe just for you on the -- just talking about -- you've talked a lot about MSC's production ramp that you're going to have over the next couple of years. Just how does this all tie in with the collaborative agreements you got with Ryan Mittal [ph] now, PAC-3 production opening up in Poland and I think Jim also mentioned Spain, an agreement there. Just can you give us an update on PAC-3, what the growth kind of expansion looks like now and same, I guess, on some high HIMARS and”
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SEC filings for LMT ↗ · Claim quote is verbatim from the 2024Q2 earnings call.