Lockheed discloses $225 million charge on classified aeronautics program

By Courtney Albon / July 26, 2021 at 1:07 PM
Lockheed Martin told investors today it took a $225 million hit in the second quarter of 2021 on a classified aeronautics development program. The company learned of the charge after a customer review in May. Lockheed Chief Financial Officer Kenneth Possenriede said during the company's second-quarter earnings call he expects the program will meet schedule and performance targets moving forward and ultimately transition into production. "We're very comfortable with the charge," Possenriede said, noting the company expects there are opportunities...

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