1524 ET - Lockheed Martin gave no assurance that it's in a better place after taking a $1.6 billion hit to 2Q profit due to program charges, Vertical Research Partners analyst Robert Stallard says. Management detailed the reasons for the charges, but didn't say the related risk is behind it, Stallard notes. The biggest concern is a classified program in Aeronautics. It made up the bulk of the 2Q charges but Lockheed can't share details about the project's future because it is confidential. Lockheed cut its earnings per share guidance for the full year to factor in the 2Q charges. Shares fall 9.5%. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
July 22, 2025 15:24 ET (19:24 GMT)
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