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The U.S. State Department has approved a $2.1 billion sale of Patriot PAC-3 missiles to Ukraine, with Lockheed Martin serving as the principal contractor.
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An AstroRad radiation protection vest, developed by StemRad in collaboration with Lockheed Martin, will be exhibited at the Smithsonian's National Air and Space Museum.
Lockheed Martin's order backlog surged to $292 billion in Q3 from $194 billion at year start, with improvements in both quantity and quality. The company is securing higher-margin contracts like the $58.6 billion PAC-3 missile defense system and establishing more favorable long-term agreements with the Department of Defense that include fixed-price escalators, upfront payments, and cancellation protections. These developments reduce execution risk and suggest improving profit margins, making the stock attractive at 22x earnings.
Lockheed Martin has been awarded an Other Transaction Agreement by the U.S. Army to support the development of the Future Interceptor program.
Lockheed Martin has contracted Rocketdyne to provide in-space propulsion systems for the next generation of NOAA geostationary weather satellites.