Lockheed Martin significantly increase revenue amid conflict in Ukraine

25.01.2023, USA

Lockheed Martin’s revenue grew by 7.3% to $19 billion in the fourth quarter of 2022, contrary to market expectations, according to the website Investors.com on January 24.

The company, which makes the F-16, F-22 and F-35 fighter jets, was expected to see its profit drop 1% to $7.41 billion, while revenue growth was expected to be 3%. However, while profit fell to $7.40 billion, revenue increased by 7.3% to $19 billion.

At the same time, the company’s net profit decreased by 5%, to $1.9 billion compared to $2 billion in 2021.

In fiscal year 2023, Lockheed expects earnings of $26.60 to $26.90 per share on sales of $65 billion to $66 billion.

Canada has also agreed to buy 88 F-35 aircraft, which should be delivered by 2032.

The administration of US President Joe Biden expects to get approval from the US Congress for the supply of new F-16s to Turkey in the amount of $20 billion. Delivery of the F-35 to Greece is also possible.

Source: Rossa Primavera News Agency

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