By Utkarsh Shetti and Mike Stone
(Reuters) -U.S. protection contractor Lockheed Martin raised its 2025 forecast for income and revenue on Tuesday, pushed by sustained demand for its fighter jets and munitions amid escalating geopolitical tensions.
Shares of the corporate rose 3.2% earlier than the bell.
Weapons makers are benefiting from surging demand for arms on account of simmering conflicts within the Center East and a protracted Russia-Ukraine struggle.
Lockheed, which makes the F-35 stealth fighters, mentioned its aeronautics phase gross sales jumped 11.9% to $7.26 billion within the third quarter.
This system secured a long-awaited $12.5 billion contract from the Pentagon final month, for a complete of 296 F-35 jets.
Lockheed has additionally clinched some massive agreements lately, together with an about $11 billion navy contract to construct as much as 99 CH-53K King Stallion helicopters, and a virtually $10 billion contract for Patriot missiles.
The commitments underscore a rising want for the U.S. authorities and its allies to replenish stockpiles and cargo up on new weapons.
Lockheed, the biggest protection contractor on the planet, can be vying for a slice of the Trump administration’s $175 billion marquee Golden Dome missile defend, for which the Pentagon started doling out contracts final month.
The corporate’s complete income rose 8.8% to $18.61 billion within the third quarter from $17.1 billion a yr in the past. Revenue per share got here in at $6.95.
It now expects a revenue of $22.15 to $22.35 per share for 2025, in contrast with its earlier estimate of $21.70 to $22.00.
The corporate additionally raised the decrease finish of its gross sales outlook to $74.25 billion from $73.75 billion, whereas sustaining the upper finish at $74.75 billion.
(Reporting by Utkarsh Shetti in Bengaluru and Mike Stone in Washington; Enhancing by Shinjini Ganguli)
