Lockheed CEO Says F-35 Software Update Linked To Progress Payment On TR-3 Jets Could Slip From Q2 To Q3
Portfolio Pulse from Benzinga Newsdesk
Lockheed Martin's CEO indicated during a conference call that the software update for the F-35, tied to progress payments on the TR-3 jets, may be delayed from the second quarter to the third quarter of the year.
January 23, 2024 | 4:19 pm
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The potential delay in the F-35 software update may impact Lockheed Martin's progress payments and could affect investor sentiment and the company's financial performance in the short term.
The delay in the software update is directly tied to the progress payments for the TR-3 jets, which are a significant part of Lockheed Martin's revenue from the F-35 program. Delays in receiving these payments could lead to short-term financial implications for the company, potentially affecting its stock price negatively as investors may react to the uncertainty and potential impact on earnings.
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