Lockheed Martin Reports Fourth Quarter and Full Year 2024 Financial Results

On 28 January 2025, the Lockheed Martin Corporation reported fourth quarter 2024 net sales of US $18.6 billion, and fourth quarter net orders of US $527 million. The company said that it had achieved net sales of US $71.0 billion in 2024, with net earnings of US $5.3 billion

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On 28 January 2025, the Lockheed Martin Corporation reported fourth quarter 2024 net sales of US $18.6 billion, compared to US $18.9 billion in the fourth quarter of 2023. Net earnings in the fourth quarter of 2024 were US $527 million (US $2.22 per share), including US $1.7 billion ($1.3 billion, or US $5.45 per share, after-tax) of losses for classified programs, compared to US $1.9 billion, or US $7.58 per share, in the fourth quarter of 2023.

Net sales in 2024 were reported as US $71.0 billion, compared to US $67.6 billion in 2023, while net earnings were US $5.3 billion in 2024, (US $22.31 per share), compared to US $6.9 billion, or US $27.55 per share, in 2023. The company returned US $6.8 billion of cash to shareholders through dividends and share repurchases in 2024.

Jim Taiclet, Lockheed Martin’s Chairman, President and CEO said that: “2024 was another successful and productive year for Lockheed Martin. Our 5% sales growth and record year-end backlog of $176 billion demonstrate the enduring global demand for our advanced defence technology and systems. In the year, we invested over $3 billion in advancing our nation’s security through research and development and capital investment to support our customers’ missions, drive innovation and transform our operations with the latest digital and manufacturing technologies. Our strong and consistent performance also enabled us to again return greater than 100% of free cash flow to our shareholders in 2024.”

“We also continue to drive collaboration across government and all sectors of American industry to accelerate innovation, improve resilience and integrate emerging technologies to deter, and if necessary to win any potential armed conflict,” Taiclet said.

“Lockheed Martin is committed to developing and delivering the best military capabilities in the world, better than any potential adversary can hope to have. One of our most critical investments in 2024 was in ensuring continued air superiority for the United States and its allies. We are fully committed to developing a combined air power solution set that integrates new 6th generation with current 5th generation and 4th generation aircraft using wingman drones, AI, advanced sensors in space and in the air, and 5G-level, cyber-hardened data links. Our leading technical and manufacturing capabilities, the innovative spirit that originated in our Skunk Works operation, our incredibly capable workforce, along with the derisking actions we executed in the fourth quarter, position us well for strong performance in 2025. We look forward to working with the incoming administration to best serve our customers with highly reliable, theatre-level mission solutions that can win wars while delivering compelling results to our shareholders.”

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