Lockheed Martin announced in a press release that the company reported second quarter 2022 net sales of $15.4 billion, compared with $17.0 billion in the second quarter of 2021.
The company also reported net earnings in the second quarter of 2022 of $309 million, or $1.16 per share, compared to $1.8 billion, or $6.52 per share, in the second quarter of 2021.
Further, “Cash from operations was $1.3 billion in both the second quarter of 2022 and 2021. Free cash flow was $1.0 billion in both the second quarter of 2022 and 2021.”
“Lockheed Martin continued to deliver strong and consistent cash generation, returning over $1 billion in cash to shareholders in the second quarter through our industry leading dividend and our ongoing share repurchase program,” said Lockheed Martin Chairman, President and CEO James Taiclet in the press release. “Although revenue in the period was affected by supply chain impacts and the timing of customer contract negotiations, our cost management initiatives resulted in margin expansion.”
“Moreover, our robust cash generation also continues to provide the resources to invest in building the foundation for future revenue and margin growth opportunities through our classified program capex projects, hypersonics development efforts, and our 21st Century Security and internal Digital Transformation initiatives,” Taiclet said.
Lockheed Martin and Cobb County
The Lockheed Martin facility in Marietta has been a major employer in Cobb County since 1951, when the Lockheed Corporation, a predecessor of Lockheed Martin, took over the former site of the WWII Bell Bomber plant.
The C-130 program is the largest program operating at the Marietta facility. The plant currently produces the C-130J Super Hercules (see the company’s Fast Facts on the C-130J or the company’s C-30J brochure for more information).
The Marietta plant also provides ongoing support for the C-5 Galaxy, which celebrated its 50th year in operation in 2018. The C-5 Galaxy is expected to remain in service until 2045.
The Marietta location also supports the P-3 Orion, and manufactures the center wings for the F-35.
