Lockheed Martin Gets Army Contract for Technical Services
A Lockheed Martin Corp. LMT unit – Integrated Systems, Inc. – won a cost-plus-fixed-fee incrementally funded contract from the U.S. Army for next generation technical services. The contract is worth $82.8 million.
The work will be carried out at Wright Patterson Air Force Base, Ohio; Aberdeen Proving Ground, Maryland; Stennis Space Center, Mississippi; Vicksburg, Mississippi; Lorton, Virginia; and Bethesda, Maryland. It will run through Jun 19, 2016.
Lockheed Martin is the largest U.S. defense contractor with a platform-centric focus that guarantees a steady inflow of follow-on orders from a leveraged presence in the Army, Air Force, Navy and IT programs.
Recently, this defense prime reported better-than-expected second-quarter 2015 earnings, which increased 10.1% on strong operational performance. Solid first-half results have also enabled it to lift its 2015 outlook for operating profit and earnings.
Lockheed Martin is quite a regular in the U.S. Department of Defense funding list in spite of the tepid budget. Recently, it secured a $240.5 million modification contract from the U.S. Air Force for the C-5 Galaxy reliability enhancement and re-engining program (RERP) Lot 7 installation. Again, the U.S. military awarded Lockheed Martin a contract, worth $870 million, to continue developing the ballistic missile defense (“BMD”) command and control program that enables senior U.S. officials to plan BMD operations.
Although the company’s second-quarter backlog witnessed both a sequential and year-over-year drop, its diverse portfolio will ensure there is no dearth of contracts.
Lockheed Martin currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the aerospace sector are Leidos Holdings, Inc. LDOS, Northrop Grumman Corporation NOC and Engility Holdings, Inc. EGL. While Leidos sports a Zacks Rank #1 (Strong Buy), Northrop Grumman and Engility Holdings carry a Zacks Rank #2.
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