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Lockheed Martin reports Q2 revenue increase

Aerospace
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Increases across three segments of its business led Maryland-based Lockheed Martin to report a $1.1 billion year-over-year increase in revenue in the second quarter.

The company, which has 600 employees at its Greenville operations facility, reported $12.7 billion in revenue for the quarter. The Greenville operations facility currently handles aircraft modification and maintenance for civilian and military aircraft.

The Greenville operation falls mostly under the company’s aeronautics segment, which reported an $850 million year-over-year increase in sales in June. For the first six months of the year the company increased net sales in aeronautics by nearly $1.2 billion.

The increase in aeronautics was pushed by $535 million in sales of the company’s F-35 fighter jet. It’s C-130 and C-5 transport aircraft reported net sales of $120 million and $110 million, respectively.

“Based on the corporation's strong results this quarter we increased our 2017 financial guidance for sales, profit and earnings,” said Marillyn Hewson, president and CEO of Lockheed Martin. “Our team remains focused on performing with excellence for our customers and continuing to deliver growth and outstanding value to shareholders.”

Greenville was chosen as the final checkout and assembly site for Lockheed Martin’s T-50A fighter/trainer aircraft, which is competing to replace the U.S. Air Force’s aging fighter/trainer fleet. That contract — which is expected to be awarded late this year or early 2018 — is worth more than $10 billion and would add up to 250 new jobs to the Greenville facility.

Lockheed Martin announced in March it was moving its F-16 fighter production line from Fort Worth, Texas to Greenville beginning later this year. While the company has no new production orders for the jet, the move could add between 200-250 new jobs to the Greenville facility if the company can sell the fighter to other countries. 

Reach Matthew Clark at 864-720-1222.

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