Lockheed CFO says he would not be surprised by 'congressional adds' to budget

By Marjorie Censer / June 10, 2021 at 11:24 AM

The chief financial officer of Lockheed Martin said this week the company benefited from congressional additions to the fiscal year 2021 budget and will be watching the FY-22 process.

Speaking at a virtual UBS conference, Ken Possenriede noted Lockheed "got an additional 17 F-35s" out of the FY-21 appropriations process. The company also saw nine C-130Js added that year, he said.

"Will history repeat itself?" he asked.

"The process may change a little bit, but I do think . . . there will be a demand for some of our portfolio," Possenriede told analysts. "Not sure I know what that will be at this time, but it would not surprise me to see, based on this budget, there will be congressional adds."