The company’s total revenue rose 8.8% to US$18.61 billion in the third quarter, above analysts’ average estimate of US$18.56 billion
[WASHINGTON] US defence contractor Lockheed Martin raised its 2025 forecast for revenue and profit on Tuesday (Oct 21), driven by sustained demand for its fighter jets and munitions amid escalating geopolitical tensions.
Weapons makers are benefiting from surging demand for arms as a result of simmering conflicts in the Middle East and a protracted Russia-Ukraine war.
Lockheed, which makes the F-35 stealth fighters, said its aeronautics segment sales jumped 11.9 per cent to US$7.26 billion in the third quarter.
The programme secured a long-awaited US$12.5 billion contract from the Pentagon last month, for a total of 296 F-35 jets.
Lockheed has also clinched some large agreements recently, including an about US$11 billion navy contract to build up to 99 CH-53K King Stallion helicopters, and a nearly US$10 billion contract for Patriot missiles.
The commitments underscore a growing need for the US government and its allies to replenish stockpiles and load up on new weapons.
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Lockheed, the largest defence contractor in the world, is also vying for a slice of the Trump administration’s US$175 billion marquee Golden Dome missile shield, for which the Pentagon began doling out contracts last month.
The company’s total revenue rose 8.8 per cent to US$18.61 billion in the third quarter, above analysts’ average estimate of US$18.56 billion, per data compiled by LSEG.
Profit per share came in at US$6.95, also beating analysts’ expectation of US$6.36.
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Lockheed now expects a profit of US$22.15 to US$22.35 per share for 2025, compared with its previous estimate of US$21.70 to US$22.00.
The company also raised the lower end of its sales outlook to US$74.25 billion from US$73.75 billion, while maintaining the higher end at US$74.75 billion. REUTERS
