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CLAIM #37722 · Lockheed Martin Corporation (LMT) · 2025Q2 earnings call · Jul 22, 2025 · due Dec 31, 2025

As of today, we're assuming a usage of $500 million of cash tied to the Aero classified program this year, which is baked inside of our cash guidance that we're reiterating at 6.6 to 6.8.

Evan Scott · CFO

PENDING
graded after results covering Dec 31, 2025 are reported

In context

asonable As I said, while keeping the national security commitments that are that are required. So that's the explanation. Like I said, we take it we take it very seriously. You know, it was you know, disconcerting to us when we started to see the cost growth after we've done the review previously. But that's the nature of something of of this magical status, I would call it. We probably won't be able to talk about what that is for many years to come. But I can assure you that it's gonna be in high demand for a very long time. Well beyond the fixed price commitments I would expect, let's say. So I'll stop there. Evan, anything else? Evan Scott: Yes. So, Ron, just to address the cash specifically, So we previously had assumed some cash usage on this program in our prior cash flow guidance. As of today, we're assuming a usage of $500 million of cash tied to the Aero classified program this year, which is baked inside of our cash guidance that we're reiterating at 6.6 to 6.8. Looking into next year, steps down a little bit. Think of roughly 400 ish million dollars of cash usage next year. Which we factored in by giving the cash flow guidance for next year. And then it continues to step down We have line of sight to when it goes positive and Jim's point, I can't state exactly when that is, but it's within our line of sight. Operator: The next question comes from Rob Stallard with Vertical Research. Rob Stallard: Thanks so much. Good morning. Morning. Morning. Morning. Jim, a quick question for you on the F-35. The administration's FY26 request for the DoD shows a reduction in what they want. From the aircraft. And I was wondering if you've got any explanation as to the why the customer is saying this. And then secondly, how easy is it to actually swap out any r

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SEC filings for LMT · Claim quote is verbatim from the 2025Q2 earnings call.