Latest news with #SkunkWorks
Yahoo
a day ago
- Business
- Yahoo
Lockheed Martin Corp (LMT) Q2 2025 Earnings Call Highlights: Navigating Challenges with ...
Revenue: $18.2 billion for the second quarter, comparable year-over-year and up sequentially from the first quarter. Sales Growth: Excluding charges, sales increased in the mid-single-digit range. Segment Operating Profit: $570 million, impacted by $1.6 billion in charges related to Skunk Works and Sikorsky. Net Losses: $1.8 billion in total charges across several legacy programs. Earnings Per Share (EPS): $1.46, reduced by $5.83 due to program losses and tax items. Free Cash Flow: Usage of $150 million in the second quarter. Shareholder Returns: $1.3 billion returned through dividends and share repurchases. F-35 Deliveries: 50 aircraft delivered in the quarter, with a total of 97 so far this year. Guidance: 2025 sales guidance reaffirmed at $73.75 billion to $74.75 billion. Backlog: $167 billion, with significant awards expected in the second half of the year. Warning! GuruFocus has detected 2 Warning Signs with LMT. Release Date: July 22, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Lockheed Martin Corp (NYSE:LMT) reported $18 billion in sales for the second quarter, demonstrating strong revenue generation. The company invested $800 million in infrastructure and innovation, indicating a commitment to future growth. Lockheed Martin Corp (NYSE:LMT) returned $1.3 billion to shareholders, showcasing a strong commitment to shareholder value. The F-35 program remains on track with 97 deliveries so far this year, highlighting operational efficiency. Lockheed Martin Corp (NYSE:LMT) demonstrated the effectiveness of its systems in recent combat operations, reinforcing its role in national security. Negative Points Lockheed Martin Corp (NYSE:LMT) recognized $1.8 billion in losses across several legacy programs, impacting financial performance. The company faced significant charges related to the Aeronautics Classified Program and other legacy programs, indicating ongoing challenges. US government sanctions affected the Turkish Utility Helicopter Program, resulting in a $95 million loss. The Canadian Maritime Helicopter Program incurred a $570 million loss due to revised cost and sales estimates. The IRS asserts that Lockheed Martin Corp (NYSE:LMT) owes $4.6 billion in additional income tax, creating potential financial uncertainty. Q & A Highlights Q: Why should investors feel comfortable that Lockheed Martin has derisked the problem programs, particularly the Aero Classified one? What changes have been made? A: James Taiclet, CEO, explained that with Evan Scott's succession as CFO, a new program review team was formed with wider expertise and higher-level management scrutiny. This team reassessed cost trends and reevaluated program assumptions, leading to additional charges. The programs will continue to be monitored with robust oversight, and there is a policy in place to avoid must-win programs, ensuring no outsized future risks. Q: Why did it take a billion dollars of charges to change the way you're reviewing the Aero Classified program? How does the $1.8 billion in charges affect cash flow? A: James Taiclet noted that the charges were due to new discoveries of cost risks and anomalies in the development phase. Evan Scott added that $500 million of cash usage is expected this year, stepping down to $400 million next year, with a line of sight to when it turns positive. Q: Can you explain the reduction in the F-35 units in the administration's FY26 request and how easy it is to swap out relinquished DoD slots with export customers? A: James Taiclet stated that the House Appropriations Committee increased the number of F-35s from 47 to 69, and the Senate marked it up to 57. Historically, appropriations committees have the final say, and there is hope for greater demand by the end of the budget process. Evan Scott added that the backlog remains strong, allowing flexibility in production planning. Q: What is the $4.6 billion tax liability related to, and how will it impact free cash flow? A: Evan Scott explained that the IRS's position on a tax accounting method change is being contested, with Lockheed Martin standing by its approach. A $100 million P&L charge was taken for interest. For 2026, a $1 billion pension contribution is assumed, with various factors impacting cash flow, including reach-forward charges and tax benefits. Q: Can you discuss the F-35's role in modern warfare and its priority for the DoD today? A: James Taiclet emphasized the F-35's critical role in modern warfare, citing its orchestration capabilities and combat-proven status. Despite budget cuts, the F-35 remains essential, and Lockheed Martin is focused on bridging capabilities to the next generation while maintaining strong international demand. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Science
- Yahoo
NASA's X-59 'quiet' supersonic jet rolls out for its 1st test drive (video)
When you buy through links on our articles, Future and its syndication partners may earn a commission. NASA's X-59 "quiet" supersonic jet continues to make its way toward the runway. The X-59 was designed from the ground up to fly faster than the speed of sound without generating the thunderous sonic booms typically associated with supersonic flight. The 99-foot (30-meter) aircraft features a radical elongated design, which eliminates a front windscreen; pilots instead see what's ahead through an augmented reality-enabled closed circuit camera system that NASA calls the External Vision System, or XVS. This month, NASA took the experimental aircraft out for a drive, performing what are known as taxi tests. During these tests, NASA test pilot Nils Larson drove the X-59 across a runway at low speeds so crews could ensure the jet's steering and braking systems work as intended. Next, NASA and Lockheed Martin will perform high-speed taxi tests in which the X-59 will accelerate to close to the speed at which it will take off. VIDEO NOT PLAYING? Some ad blockers can disable our video player. The taxi tests took place at the U.S. Air Force's Plant 42 facility in Palmdale, California. The Air Force and its contractors use the plant to manufacture and test classified aircraft; the X-59 is being developed by Lockheed Martin, whose legendary "Skunk Works" facility is found at Plant 42. Some of the U.S. military's most advanced aircraft were developed to some extent at Plant 42, including the F-22 Raptor, the B-2 Spirit, and the uncrewed RQ-170 Sentinel spy drone. NASA's recently-retired SOFIA airborne observatory aircraft, the "flying telescope," also called Plant 42 home. The agency's space shuttles, the world's first reusable spacecraft, were also assembled and tested at the facility. These taxi tests are only the most recent tests that have taken place over the last several months. Earlier this month, NASA teamed up with the Japan Aerospace Exploration Agency (JAXA) to test a scale model of the X-59 in a supersonic wind tunnel in order to measure the noise produced beneath the aircraft. Months prior, in May 2025, NASA fed data into the aircraft's computers that simulated being in flight, including experiencing failures. A month before that, NASA ran the X-59 through an "engine speed hold," similar to a car's cruise control, to ensure its engine can maintain a specific speed. But 2025 began with the most photogenic of all: afterburner tests, during which extra fuel was injected into the aircraft's hot exhaust. If the X-59's upcoming tests continue to be successful, NASA will soon conduct a flight test campaign that will see the jet fly over selected populated areas to collect data on how the aircraft's quieter sonic "thumps" are perceived on the ground. The ultimate goal is to develop technologies that can help bring supersonic flight back to the continental United States. Commercial supersonic flight has been banned for decades because of how disruptive the associated sonic booms can be. If the X-59 and other supersonic aircraft can find ways to mitigate these loud sonic booms, supersonic flight could indeed return, greatly reducing flight times for civilian travel, disaster response, medical transport and other applications.
Sustainability Times
08-07-2025
- Sustainability Times
'We're Entering the Mach 5 Era': US Military's SR-72 Hypersonic Jet Set to Shatter Speed Limits With 2025 Debut
IN A NUTSHELL 🚀 The SR-72 hypersonic jet, known as 'Son of Blackbird,' aims to exceed Mach 5 speeds, revolutionizing aerial reconnaissance and strike capabilities. hypersonic jet, known as 'Son of Blackbird,' aims to exceed Mach 5 speeds, revolutionizing aerial reconnaissance and strike capabilities. 🔍 Developed by Lockheed Martin's Skunk Works , the unmanned SR-72 is designed for intelligence, surveillance, and reconnaissance missions in contested environments. , the unmanned SR-72 is designed for missions in contested environments. 💡 The jet employs a turbine-based combined cycle propulsion system, merging a turbofan and scramjet to achieve sustained hypersonic flight. propulsion system, merging a turbofan and scramjet to achieve sustained hypersonic flight. 📅 Despite facing technical and financial challenges, the SR-72 aligns with the USAF's hypersonic roadmap, with a potential in-service date by 2030. The development of the SR-72 hypersonic jet, known as the 'Son of Blackbird,' is poised to revolutionize aerial reconnaissance and strike capabilities. This secretive project by Lockheed Martin Skunk Works, under the auspices of the United States Air Force, aims to introduce an unmanned aircraft that can exceed speeds of Mach 5. With its combination of speed, stealth, and advanced technology, the SR-72 is designed to overcome modern air defense systems and provide unparalleled intelligence-gathering capabilities. As the world anticipates its debut, questions about its strategic impact and technological innovations abound. The Secretive SR-72 Program The SR-72 project, shrouded in secrecy, is intended to be the hypersonic successor to the legendary SR-71 Blackbird. Developed by Lockheed Martin's Skunk Works team, the SR-72 is expected to reach speeds over Mach 5, making it the fastest operational airframe ever built. Its purpose is to execute strategic intelligence, surveillance, and reconnaissance missions in environments that pose unacceptable risks to conventional manned platforms. The jet's formidable speed and altitude capabilities are designed to penetrate advanced integrated air defense systems while delivering time-sensitive intelligence with minimal risk. Unlike its predecessor, the SR-72 will be an unmanned, reusable aircraft, capable of autonomous missions at hypersonic speeds. With a length of over 100 feet, the SR-72 will echo the dimensions of the SR-71 but introduce a revolutionary propulsion system. The turbine-based combined cycle (TBCC) propulsion merges a traditional turbofan engine with a supersonic combustion ramjet, or scramjet, enabling sustained speeds above Mach 5. This dual-mode propulsion is essential, as no single engine can efficiently operate across the full subsonic-to-hypersonic flight envelope, marking a significant technological advancement. 'Trees Are Poisoning the Air': Shocking New Study Reveals Natural Plant Defenses May Be Making Pollution Worse Harnessing Hypersonic Speed The SR-72's hypersonic speed redefines strategic mobility, allowing it to traverse the continental United States to Europe or Asia in approximately 90 minutes. This rapid global reach enhances intelligence and strike capabilities, enabling commanders to make swift decisions in dynamic operational contexts. However, the program faces significant technical and financial hurdles. Although preliminary discussions with U.S. government stakeholders have occurred, securing full funding for a demonstrator airframe and engine development remains a challenge. The SR-72's path aligns with the USAF's hypersonic roadmap, with a tentative in-service date by 2030. However, this timeline depends on overcoming propulsion, thermal management, and materials challenges inherent to sustained hypersonic flight. The aircraft's high-speed profile is essential to counter modern air defense systems, such as the S-500 and HQ-19, by minimizing time-on-target and exposure windows. The TBCC configuration is not just a performance enhancement but a crucial operational necessity. The SR-72's success could redefine power projection in denied-access environments through next-generation propulsion and uncrewed systems architecture. 'NASA Unveils Cosmic Spectacle': Stunning New Images and Sounds of Andromeda Galaxy Leave Astronomers in Absolute Awe Technological and Strategic Challenges Developing the SR-72 involves overcoming immense technical hurdles, particularly in propulsion and thermal management. The hypersonic speeds required necessitate innovative solutions to manage the extreme heat generated during flight. The TBCC system, combining a turbofan and a scramjet, is pivotal to achieving these speeds. However, creating a reliable and efficient system that can transition seamlessly between subsonic and hypersonic speeds is a significant engineering challenge. Financially, the SR-72 program must secure substantial investment to advance from prototype to operational status. While its alignment with the USAF's hypersonic goals is promising, the costs associated with developing and deploying such advanced technology are considerable. The program's success will depend on continued collaboration between government and industry to address these financial and technical obstacles. If successful, the SR-72 will mark a transformative milestone in aerial reconnaissance and strike capability, leveraging cutting-edge technology to maintain strategic superiority. 'Ancient Gene Switch Flipped': Scientists Restore Limb Regeneration in Mice Using Dormant DNA Once Thought Lost Forever The Future of Hypersonic Aircraft The SR-72 represents a significant leap forward in hypersonic technology, offering unprecedented speed and stealth capabilities. Its development underscores the growing importance of hypersonic aircraft in modern warfare, as nations seek to outpace and outmaneuver sophisticated air defense systems. The SR-72's potential to serve as a platform for hypersonic strike weapons further enhances its strategic value, providing a crucial element in the United States' military arsenal. As the SR-72 program progresses, its impact on global military dynamics will be closely watched. The aircraft's ability to deliver rapid intelligence and strike capabilities could shift the balance of power, prompting other nations to accelerate their hypersonic developments. The SR-72's success will not only redefine aerial warfare but also set new standards for technological innovation and strategic planning. How will this hypersonic marvel reshape the future of global military engagements? Our author used artificial intelligence to enhance this article. Did you like it? 4.5/5 (21)
Yahoo
20-05-2025
- Business
- Yahoo
An F-35 stealth fighter flying in Texas sent classified data to an air base 5,000 miles away in Denmark
An F-35 flying in Texas recently sent classified data to a command center in Denmark. The demonstration showed how the stealth fighter can gather critical intel and export it to allies. The F-35's advanced sensors and avionics allow it to act as the quarterback for a given mission. US defense contractor Lockheed Martin said one of its F-35 stealth fighters sent classified data from Texas to a command center about 5,000 miles away in Denmark, calling this a milestone and a successful demonstration of how systems work together. Danish military F-35s flying out of Fort Worth exported the data via DAGGR-2, made by Lockheed's Advanced Development Programs, also known as Skunk Works. The command-and-control system then passed the classified information through commercial satellite communications to Denmark's Skrydstrup Air Base. In a statement on Monday, Lockheed said that "this is another success in a series of Multi-Domain Operations (MDO) demonstrations proving the F-35's ability to serve as a powerful force multiplier, enabling allied forces to rapidly deploy ready-now capabilities to connect systems across the battlespace." Simply put, the advantages of the F-35 aren't limited to the munitions it carries. The stealth fighter can boost situational awareness and quarterback assets to make them more effective. Danish Air Chief Maj. Gen. Jan Dam hailed the recent data demonstration as a "significant milestone toward enhancing Denmark's capabilities, as it enabled our MDO staff to witness in real-time the potential of the F-35's ability to collect, analyse and share advanced data across geographically dispersed networks." Denmark is one of the eight countries that made up the original multinational F-35 program. The fifth-generation stealth fighter jet has been sold to 12 additional countries around the world, and over 1,200 aircraft have already been delivered to these militaries, including the US, since the first plane rolled off the production line nearly two decades ago. The F-35 is considered to be a key component of American airpower. Not only can it penetrate contested airspace, but it can also quarterback the mission, leading the team even if it doesn't fire any weapons using its high-end sensors and advanced networking capabilities. The recent demonstration highlights how the F-35 can effectively gather critical information and distribute it to allies. Past exercises involving the aircraft have underscored this capability. In April, Lockheed shared that a Danish F-35 relayed sensitive data to a command center at Leeuwarden Air Base during the NATo air exercise Ramstein Flag 2025, and that information was then passed to a rocket artillery system to enable a kill. OJ Sanchez, Skunk Works' vice president and general manager, said that the collaboration with Denmark has "enabled us to do what we do best at Skunk Works — rapidly deploy ready-now capabilities at a pace unparalleled in the industry and prove it through real-world flights." The US operates all three F-35 variants — the A for conventional take-off and landing, the B for short take-off and vertical landing, and the C for ship-based operations — and has used each one in combat operations in the Middle East. Denmark's air force uses the F-35A for its operations. Read the original article on Business Insider
Business Insider
20-05-2025
- Business
- Business Insider
An F-35 stealth fighter flying in Texas sent classified data to an air base 5,000 miles away in Denmark
US defense contractor Lockheed Martin said one of its F-35 stealth fighters sent classified data from Texas to a command center about 5,000 miles away in Denmark, calling this a milestone and a successful demonstration of how systems work together. Danish military F-35s flying out of Fort Worth exported the data via DAGGR-2, made by Lockheed's Advanced Development Programs, also known as Skunk Works. The command-and-control system then passed the classified information through commercial satellite communications to Denmark's Skrydstrup Air Base. In a statement on Monday, Lockheed said that "this is another success in a series of Multi-Domain Operations (MDO) demonstrations proving the F-35's ability to serve as a powerful force multiplier, enabling allied forces to rapidly deploy ready-now capabilities to connect systems across the battlespace." Simply put, the advantages of the F-35 aren't limited to the munitions it carries. The stealth fighter can boost situational awareness and quarterback assets to make them more effective. Danish Air Chief Maj. Gen. Jan Dam hailed the recent data demonstration as a "significant milestone toward enhancing Denmark's capabilities, as it enabled our MDO staff to witness in real-time the potential of the F-35's ability to collect, analyse and share advanced data across geographically dispersed networks." Denmark is one of the eight countries that made up the original multinational F-35 program. The fifth-generation stealth fighter jet has been sold to 12 additional countries around the world, and over 1,200 aircraft have already been delivered to these militaries, including the US, since the first plane rolled off the production line nearly two decades ago. The F-35 is considered to be a key component of American airpower. Not only can it penetrate contested airspace, but it can also quarterback the mission, leading the team even if it doesn't fire any weapons using its high-end sensors and advanced networking capabilities. The recent demonstration highlights how the F-35 can effectively gather critical information and distribute it to allies. Past exercises involving the aircraft have underscored this capability. In April, Lockheed shared that a Danish F-35 relayed sensitive data to a command center at Leeuwarden Air Base during the NATo air exercise Ramstein Flag 2025, and that information was then passed to a rocket artillery system to enable a kill. OJ Sanchez, Skunk Works' vice president and general manager, said that the collaboration with Denmark has "enabled us to do what we do best at Skunk Works — rapidly deploy ready-now capabilities at a pace unparalleled in the industry and prove it through real-world flights." The US operates all three F-35 variants — the A for conventional take-off and landing, the B for short take-off and vertical landing, and the C for ship-based operations — and has used each one in combat operations in the Middle East. Denmark's air force uses the F-35A for its operations.
