LMT - Lockheed shares slide as CFO says F-35 deal could slip into Q3

Lockheed Martin (NYSE:LMT) still needs to resolve a "handful of items" with the U.S. Department of Defense Joint Program Office to wrap up three years of contract negotiations on the latest F-35 production lots, CFO Jay Malave said Wednesday at a UBS conference, Bloomberg reports. Lockheed (LMT) and the Pentagon are addressing cost issues arising from inflation and COVID-19 disruptions in talks over lots 15-17, which Malave reportedly said could wrap up this month or slide into July. A completed contract could add $14B-$15B to Lockheed (LMT) sales this year, the CFO said. Lockheed Martin (LMT) "will deliver long-term outperforming capital gains and strong dividend growth" for investors, Leo Nelissen writes in a bullish analysis posted on Seeking Alpha.

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Lockheed shares slide as CFO says F-35 deal could slip into Q3