Lockheed Martin has already taken actions to address Turkey's suspension from the F-35 program and expects limited "future production or sustainment impact," the contractor's chief executive said today.
In a call with analysts, Marillyn Hewson called the situation "pretty fluid," but stressed that the company has been working with the Pentagon "for a number of months -- close to a year."
She said Turkey was only slated to buy eight aircraft per year in Lots 12-14. Those aircraft, Hewson said, could be absorbed by other countries.
"There have been additional countries that have expressed interest," she told analysts, pointing to Poland as an example.
Lockheed has spent months looking at the supply chain effects, Hewson added.
"It's been percolating for a while and we addressed it early,” she said. “We're very much comfortable that we're on a good path to mitigate any risks to the program."
Ken Possenriede, Lockheed's chief financial officer, said during the same call the company will be compensated if there is "any harm to industry" related to the decision.
Meanwhile, Lockheed today said sales in its most recent quarter hit $14.4 billion, up 8% from the same three-month period a year earlier.
The contractor said quarterly profit reached $1.4 billion, up 22% from the prior year.
All four Lockheed business units reported increased quarterly sales and profit.