Lockheed Posts $66B in Net Sales in 2022; Jim Taiclet Quoted

Lockheed Martin’s (NYSE: LMT) net sales reached $66 billion in 2022, with aeronautics accounting for the biggest share of its business last year.

Aeronautics contributed $26.98 billion to Lockheed’s sales, followed by its rotary and mission systems segment with $16.1 billion, and space and missiles and fire control each posting $11 billion, according to the company’s 2022 financial results published Tuesday.

Net sales rose from $17.7 billion in the fourth quarter of 2021 to $19 billion in the same period last year. Net earnings slightly declined from $2 billion in Q4 2021 to $1.9 billion in Q4 2022.

Total comprehensive income for 2022 was $5.7 billion, and the company was able to return $10.9 billion in stock dividends and repurchases to shareholders.

“As we track toward our objective of growth resumption in 2024, we will continue to execute our dynamic and disciplined capital allocation program, by reinvesting in our business and pursuing growth opportunities, and returning capital to shareholders,” said Jim Taiclet, chairman, president and CEO of Lockheed and a two-time recipient of the Wash100 Award.

Lockheed’s 2023 guidance has the company’s earnings in the range of $26.60 to $26.90 per share and revenue of between $65 billion and $66 billion.

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