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Jim Cramer on Lockheed Martin: “I Wouldn’t Be Surprised If It’s Got More Upside Already”
Yahoo Finance· 2026-02-04 18:40
Core Insights - Lockheed Martin Corporation (NYSE:LMT) has shown significant stock price appreciation, with a 31% increase last month, marking it as one of the best performers in the S&P 500 [1] - The company's stock performance has dramatically improved over the past year, recovering from fears of reduced defense spending under the previous administration to a favorable outlook with a proposed 50% increase in the defense budget [1] - Lockheed Martin reported strong quarterly results, exceeding both top and bottom line expectations, and provided a positive full-year forecast, indicating potential for further stock upside [1] Company Overview - Lockheed Martin designs and maintains various military and government-related technologies, including aircraft, missile systems, helicopters, satellites, naval vessels, and cybersecurity tools [3]
L3Harris(LHX) - 2025 Q4 - Earnings Call Transcript
2026-01-29 16:32
Financial Data and Key Metrics Changes - Revenue for 2025 was $21.9 billion, representing a 5% organic growth, with adjusted segment operating margin at 15.8%, up 40 basis points [16] - Non-GAAP EPS increased to $10.73, an 11% rise over 2024, while adjusted free cash flow grew to $2.8 billion, over 20% increase [16] - For Q4, revenue was $5.6 billion, up 6% organically, with a segment operating margin of 15.7%, also up 40 basis points [16] Business Line Data and Key Metrics Changes - Communications Systems (CS) delivered $5.7 billion in revenue for 2025, with a margin of 25.2%, reflecting 4% growth and 50 basis points margin expansion [17] - Integrated Mission Systems (IMS) reported $6.6 billion in revenue, achieving 8% organic growth with a margin of 12.2% [17] - Space and Airborne Systems (SAS) generated $6.9 billion in revenue, with a margin of 12.3% [18] - Aerojet Rocketdyne achieved 12% organic revenue growth, exceeding $2.8 billion with a margin of 12.5% [19] Market Data and Key Metrics Changes - The company ended 2025 with a record backlog and order book exceeding $38 billion, with a Book-to-Bill ratio of 1.3 [11] - Key wins included a $2.2 billion award from South Korea for next-generation airborne early warning jets and an $850 million SDA contract for 18 satellites [12][14] Company Strategy and Development Direction - The company is focusing on evolving its business by aligning its portfolio with fast-growing defense priorities and pursuing strategic partnerships [4][5] - Plans include an IPO for the missile solutions business in the second half of 2026, with the Department of War as an anchor investor [5][20] - The company aims to enhance production capacity for critical missile programs and has begun construction to expand capacity on solid rocket motors [8] Management's Comments on Operating Environment and Future Outlook - Management highlighted a complex and rapidly evolving defense environment, emphasizing the importance of speed and execution [8] - The company anticipates continued strong demand for its products, with expectations of double-digit growth for the missile solutions business [30] - The 2026 guidance includes revenue expectations of $23 billion to $23.5 billion, representing 7% organic growth [20] Other Important Information - The company has reorganized its business segments from four to three to better align technology and business models [4] - The company has exceeded its LHX NeXt $1 billion savings commitment one year ahead of schedule [14] Q&A Session Summary Question: Long-term agreements for Missile Solutions - Management confirmed ongoing discussions with the Department of War regarding long-term agreements and expressed optimism about the growth potential of the missile solutions business [26][27] Question: CapEx expectations - Management indicated a planned increase in CapEx to about 2.5% of sales for 2026, with a focus on modernizing production lines [32][33] Question: Government stake in Missile Solutions - Management clarified that the government is expected to hold a single-digit equity ownership stake in the Missile Solutions business [40] Question: Revenue outlook for RemainCo - Management projected solid mid-single-digit growth for RemainCo, with expectations of leveraging a potentially larger defense budget in 2027 [46][49] Question: Production plans and competitive landscape in space - Management discussed the importance of speed and scale in satellite production and highlighted the company's investments in new facilities to meet demand [80][82] Question: Sustainability of CSD margins - Management expressed confidence in maintaining healthy margins for the Communications and Spectrum Dominance segment, with potential for future margin expansion [72][76]
Eutelsat orders 340 Airbus satellites to sustain OneWeb network
Seeking Alpha· 2026-01-12 17:21
Core Insights - Eutelsat has ordered 340 new satellites from Airbus to enhance its OneWeb low-Earth-orbit constellation [2] - The new satellites will replace older spacecraft as they reach the end of their operational life [2] Company Summary - Eutelsat is actively expanding its satellite fleet to maintain service quality and operational capacity [2] - Airbus is the supplier for the new satellites, indicating a continued partnership in satellite technology [2]
