CLAIM #37598 · Lockheed Martin Corporation (LMT) · 2024Q2 earnings call · Jul 23, 2024 · due Jul 23, 2027
“We've talked JASSM and LRASM going from about 700 a year to 1,100 a year, so all of these orders that we're seeing, all these customer engagements that we have both domestic and international are all enablers to drive to these rates that we're building to.”
Jay Malave · CFO
How to check this claim
Look at: Combined annual production/delivery rate of JASSM and LRASM missiles
It came true if: Annual rate >= 1,100 units per year
Where: Company disclosures / management commentary (earnings calls, investor presentations, 10-K segment discussion)
In context
“3, what the growth kind of expansion looks like now and same, I guess, on some high HIMARS and JASSM, what some of those growth rates look like? Thanks. Jay Malave: Sure. A lot of these agreements enable -- they're part of in-country requirements for industrial cooperation. You mentioned Poland, you mentioned Germany, also Australia. And those are enablers for us to build up this backlog and drive this demand. On the PAC-3 specifically, we expect to get to $550 million in 2025, and then to $650 million by 2027. And so all of these orders and these partnerships that we're signing up, while all enablers to us to be able produce and deliver at those rates. And it's not just PAC-3. We've talked about GMLRS going from 10,000 to 14,000. We've talked about Javelin going from 2000 to about 4,000. We've talked JASSM and LRASM going from about 700 a year to 1,100 a year, so all of these orders that we're seeing, all these customer engagements that we have both domestic and international are all enablers to drive to these rates that we're building to. And so what they do is fill in the bucket to bring us to that backlog that's necessary for us to generate those sales. And we're on track to that. Operator: The next question comes from the line of Jason Gursky from Citi Research. Please go ahead. Jason Gursky: Good morning everybody. Jim, I wanted to just throw a big picture one at you, and maybe have you kind of wrap all of this together and kind of what you're seeing both in the near and in the long-term? And maybe just get your sense of maybe with a few more quarters here of hindsight, some of the lessons learned from the conflict in Ukraine. What you at Lockheed have learned from that whether you're investing in any new areas as a result of that? And kind of the feedback loop that you're getting from your customer both here in the Un”
Verify independently
SEC filings for LMT ↗ · Claim quote is verbatim from the 2024Q2 earnings call.