Lockheed Martin Predicts a Slow Year Despite Recent Ukraine Deals
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War is hell, but it's also a business.
Lockheed Martin has seen deals with the US Department of Defense accelerate as Washington sends vast amounts of weapons to Ukraine, but supply chain bottlenecks and labor shortages have caused the military contractor's annual forecast to dip just below Wall Street's expectations.
Still on Top
Lockheed is the world's largest defense company by sales, so even if 2023 looks like a plateau year for the F-35 fighter jet maker, it's still at the top of the game and expects to see growth again in 2024. Lockheed had a better-than-expected fourth quarter of 2022 with $19 billion in sales, about 3% above the company's prediction, but for the whole year, it delivered roughly $66 billion in sales, a small dip compared to $67 billion in 2021.
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