Lockheed Martin<\/b>\u2019s Space segment saw another quarter of increased sales, as the company reported $3 billion in net Space sales in the first quarter (Q1) of 2021. This was a 3% increase compared to the same time period in 2020. <\/p>\n
The company attributed the increase to higher net sales of approximately $60 million for the Atomic Weapons Establishment (AWE) program due to higher volume; and about $20 million for commercial civil space programs due to higher volume primarily in space transportation programs.<\/p>\n
The Space segment\u2019s operating profit, however, decreased $54 million or 19% in Q1, compared to the same period in 2020. The company attributed the decrease primarily to lower risk retirements in the Advanced Extremely High Frequency (AEHF) program, and about $35 million due to lower equity earnings in United Launch Alliance (ULA)<\/b>. <\/p>\n
Total equity losses primarily from ULA in Space\u2019s operating profit were approximately $5 million loss, a 2% decrease to Space\u2019s operating profit in the first quarter of 2021. This compares to earnings of $30 million, or 11%, in the first quarter of 2020.<\/p>\n
Space backlog is at $28.8 billion, an increase of $3.6 billion from the previous quarter. <\/p>\n
This comes after a strong 2020 for Lockheed Martin, despite the COVID-19 pandemic. In 2002, Lockheed\u2019s Space segment had $11.9 billion in net sales, a 9% increase over 2019.<\/p>\n
Overall, Lockheed Martin saw an increase in net sales in the first quarter 2021, reporting net sales of $16.3 billion, compared to $15.7 billion in the first quarter of 2020. Net earnings in the first quarter were $1.8 billion, or $6.56 per share, compared to $1.7 billion, or $6.08 per share, in the first quarter of 2020. Each segment saw an increase of sales in Q1. <\/p>\n
In addition, Lockheed Martin raised its 2021 guidance. The new guidance forecasts net sales of between $67.3 billion and $68.7 billion. This is up from the January 2021 outlook of between $67.1 billion and $68.5 billion. <\/p>\n
\u201cOur strong financial results position us to continue advancing 21st century innovations that will deter the threats of the future, while remaining a trusted partner for customers who depend on our existing platforms and services today,\u201d commented Lockheed Martin Chairman, President, and CEO James Taiclet. \u201cAs we look ahead to a new and better normal, our workforce is focused on growth, ready to strengthen our foundation well into the future.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Lockheed Martin\u2019s Space segment saw another quarter of increased sales, as the company reported $3 billion in net Space sales in the first quarter (Q1) of 2021. This was a 3% increase compared to the same time period in 2020. The company attributed the increase to higher net sales of approximately $60 million for the […]<\/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-57679","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\/57679"}],"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=57679"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/57679\/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=57679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=57679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=57679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}