LMT - Lockheed's next F-35 contract seen at $30B - Bloomberg

Lockheed Martin's ( NYSE: LMT ) next contract for several hundred F-35 fighter jets will be worth ~$30B , Bloomberg reported Monday, citing an unnamed defense official familiar with the negotiations.

The exact number of planes included in the deal will be provided once the contract is awarded - which should happen this summer or early fall - although much work remains to get to that point, according to the report.

The Department of Defense said last week it reached a preliminary deal with Lockheed Martin ( LMT ) on what is now a planned 375 aircraft for the 15th, 16th and 17th production contracts.

The F-35 Joint Program Office said only that it has "considered the actual costs of production during the COVID-19 pandemic and updated information in regards to inflation, which resulted in lower quantities."

Lockheed Martin's ( LMT ) "underwhelming" Q2 results do not reflect its potential, Chase Fida writes in a bullish analysis published recently on Seeking Alpha .

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