Oct 21 (Reuters) - U.S. defense contractor Lockheed
Martin ( LMT ) raised its 2025 forecast for revenue and profit on
Tuesday, driven by sustained demand for its fighter jets and
munitions amid escalating geopolitical tensions.
Weapons makers are benefiting from surging demand for arms
as a result of simmering conflicts in the Middle East and a
protracted Russia-Ukraine war.
Lockheed, which makes the F-35 stealth fighters, said its
aeronautics segment sales jumped 11.9% to $7.26 billion in the
third quarter.
The program secured a long-awaited $12.5 billion contract
from the Pentagon last month, for a total of 296 F-35 jets.
Lockheed has also clinched some large agreements recently,
including an about $11 billion navy contract to build up to 99
CH-53K King Stallion helicopters, and a nearly $10 billion
contract for Patriot missiles.
The commitments underscore a growing need for the U.S.
government and its allies to replenish stockpiles and load up on
new weapons.
Lockheed, the largest defense contractor in the world, is
also vying for a slice of the Trump administration's $175
billion marquee Golden Dome missile shield, for which the
Pentagon began doling out contracts last month.
The company's total revenue rose 8.8% to $18.61 billion in
the third quarter from $17.1 billion a year ago. Profit per
share came in at $6.95.
It now expects a profit of $22.15 to $22.35 per share for
2025, compared with its previous estimate of $21.70 to $22.00.
The company also raised the lower end of its sales outlook
to $74.25 billion from $73.75 billion, while maintaining the
higher end at $74.75 billion.
(Reporting by Utkarsh Shetti in Bengaluru and Mike Stone in
Washington; Editing by Shinjini Ganguli)