Lockheed Martin sees $5.7 billion in net earnings in 2022, projects $65 billion+ in revenue in 2023

Photo: The #StopLockheedMartin day of action outside the company’s head office in Ottawa on April 22, 2022.

Reuters reports: “The defense contractor said it expected a profit of $26.60 to $26.90 per share in 2023.”

That article also notes: “Lockheed forecast 2023 revenue between $65 billion and $66 billion, compared with market estimates of $65.74 billion.”

It also reports: “[Lockheed Martin] reported fourth-quarter net sales of $18.99 billion, above expectations of $18.27 billion.”

Overall, Lockheed Martin notes: “Net sales in 2022 were $66.0 billion, compared to $67.0 billion in 2021. Net earnings in 2022 were $5.7 billion, or $21.66 per share, compared to $6.3 billion, or $22.76 per share, in 2021.”

Investopedia explains: “The bottom line shows how much a company has earned after subtracting all of its expenses. This measure can be referred to as net profit, net earnings, or net income.”

The Ottawa Citizen also reports: “The parliamentary budget officer will examine the Liberal government’s decision to buy the U.S.-built [Lockheed Martin] F-35 stealth fighter and has now requested information about the deal from National Defence.”

That article further notes that Parliamentary Budget Officer Yves Giroux has sent a letter to Defence Minister Anita Anand asking for information, including a copy of the contract signed with the U.S. government to provide the F-35, no later than February 13.

That contract may help to understand how Canada has helped Lockheed Martin’s profit levels with its $19 billion purchase of 88 F-35s.

Photo: The #CancelCANSEC protest on June 1, 2022. The CANSEC arms show, sponsored by Lockheed Martin, will be taking place again this year from May 31-June 1.

Over 220 global organizations are calling for a complete cancellation of the F-35 program. For more on this, click on this Ground the F-35 webpage.