The company reports for (Q2)2025:
- Net income decreased to USD 342 million, compared to USD 1.64 billion in the previous year (approx. 80 % decrease) .
- Earnings per share (EPS): USD 1.46, compared to USD 6.85 in the same quarter of the previous year .
- Adjusted EPS (excluding one-off effects): USD 7.29, above the consensus of around USD 6.49 .
- Revenue was around USD 18.16 billion, below analysts' expectations of around USD 18.57 billion
One-off effects:
- USD 1.6 billion in non-recurring pre-tax losses, including:
- USD 950 million for a classified aeronautics program,
- USD 570 million for chaotic international helicopter projects (e.g. Canada, Turkey),
- a further USD 169 million for the US Air Force's NGAD program, for example
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- These items led to a decline in EPS of USD 5.83
- Full-year EPS guidance lowered to USD 21.70-22.00, previously guidance was between USD 27-27.30
- Performance: Despite good adjusted earnings, Lockheed suffers considerably from the high one-off effects.
- Valuation & share price: The market reacted negatively - the share price fell between 7.4 % and 8.6 %
- Background: Problems, particularly in the aeronautics sector (classified programs) and in helicopter development, have led to massive burdens.
