{"id":58798,"date":"2020-10-21T01:12:18","date_gmt":"2020-10-20T17:12:18","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/lockheed-martin-space-sees-government-business-boost-in-q3\/"},"modified":"2020-10-21T01:12:18","modified_gmt":"2020-10-20T17:12:18","slug":"lockheed-martin-space-sees-government-business-boost-in-q3","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/lockheed-martin-space-sees-government-business-boost-in-q3\/","title":{"rendered":"Lockheed Martin Space Sees Government Business Boost in Q3"},"content":{"rendered":"<\/p>\n<p><strong>Lockheed Martin Space<\/strong> continues to benefit from increased government spending, as the company reported a 6% increase in 2020 Third Quarter (Q3) net space sales totaling $163 million. Approximately $90 million of its space sales came from higher volume on government satellite programs such as the Next Generation Overhead Persistent Infrared (Next Gen OPIR) system.<\/p>\n<p>Though net sales increased, Lockheed Martin Space reported a 20% Year-Over-Year (YOY), $61 million decrease in operational profits due to lower equity earnings from the corporation\u2019s investment in <strong>United Launch Alliance<\/strong> (ULA) and lower risk retirements, primarily involving its Advanced Extremely High Frequency (AEHF) satellites. Most of Lockheed Martin Space\u2019s equity earnings come from ULA. These earnings were $5 million in the Third Quarter of 2020 compared to $55 million during the same period last year.<\/p>\n<p>\u201cThese decreases were partially offset by an increase of approximately $15 million for commercial satellite programs due to charges recorded for performance matters in 2019 not repeated in 2020,\u201d Lockheed Martin said in its Q3 report.<\/p>\n<p>Through three quarters, Lockheed Martin Space remains approximately $620 million ahead in net sales from where it stood this time last year.<\/p>\n<p>Overall, <strong>Lockheed Martin Corp.<\/strong> reported $16.5 billion in Q3 2020 net sales, compared to $15.2 billion in Q3 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lockheed Martin Space continues to benefit from increased government spending, as the company reported a 6% increase in 2020 Third Quarter (Q3) net space sales totaling $163 million. Approximately $90 million of its space sales came from higher volume on government satellite programs such as the Next Generation Overhead Persistent Infrared (Next Gen OPIR) system. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":58799,"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-58798","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\/58798"}],"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=58798"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/58798\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/58799"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=58798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=58798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=58798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}