{"id":56404,"date":"2021-10-26T20:37:05","date_gmt":"2021-10-26T12:37:05","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/lockheed-martin-space-sales-slightly-down-in-q3-2021\/"},"modified":"2021-10-26T20:37:05","modified_gmt":"2021-10-26T12:37:05","slug":"lockheed-martin-space-sales-slightly-down-in-q3-2021","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/lockheed-martin-space-sales-slightly-down-in-q3-2021\/","title":{"rendered":"Lockheed Martin Space Sales Slightly Down in Q3 2021"},"content":{"rendered":"<\/p>\n<p>Sales at <strong>Lockheed Martin<\/strong>\u2019s Space segment were slightly down in the third quarter of 2021, as the full company reported a dip in sales as well.&nbsp;<\/p>\n<p>Lockheed Martin reported a $147 million, or 5% decrease in Space sales to lower net sales of $340 million due to the renationalization of the Atomic Weapons Establishment (AWE) program by the <strong>UK Ministry of Defence<\/strong>. This program will no longer be included in the company\u2019s financial results.&nbsp;<\/p>\n<p>This was partially offset by higher sales of about $140 million for strategic and missile defense programs including hypersonic development, Fleet Ballistic Missile (FBM) and Next Generation Interceptor (NGI) programs. It was also partially offset by $70 million for national security space programs.<\/p>\n<p>Space\u2019s operating profit during the third quarter of 2021 increased $16 million, or 6%, compared to the same period in 2020.&nbsp;&nbsp;<\/p>\n<p>Equity earnings for <b>United Launch Alliance<\/b> (ULA), a joint venture between Lockheed Martin and <b>Boeing<\/b>, were \u201cnot significant\u201d during the third quarters of 2021 and 2020, the company said.&nbsp;<\/p>\n<p>Space is Lockheed Martin\u2019s smallest segment, but each segment saw a sales dip in Q3. Third quarter net sales were $16 billion, compared to $16.5 billion in the third quarter of 2020.<\/p>\n<p>Lockheed Martin revised its financial guidance for 2022, expecting $67 billion in net sales for 2022, compared to the August guidance of sales between $67.3 billion \u2013 $68.7 billion. This guidance does not incorporate Lockheed Martin\u2019s pending acquisition of Aerojet Rocketdyne, which it said could materially change the 2022 estimate.&nbsp;<\/p>\n<p>\u201cWe have recently undertaken a reassessment of our five-year business plan given recent external and programmatic events,\u201d Chairman, President and CEO James Taiclet said in Tuesday\u2019s announcement. \u201cOur conclusions \u2026 reflect continuing strong cash flow generation, but a slight reduction in revenue in 2022 and roughly flat to low-single-digit growth rates in both revenue and segment operating profit over the next few years, with increasing growth opportunities in the years that follow.\u201d&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sales at Lockheed Martin\u2019s Space segment were slightly down in the third quarter of 2021, as the full company reported a dip in sales as well.&nbsp; Lockheed Martin reported a $147 million, or 5% decrease in Space sales to lower net sales of $340 million due to the renationalization of the Atomic Weapons Establishment (AWE) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":47641,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-56404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/56404"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=56404"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/56404\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/47641"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=56404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=56404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=56404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}