Lockheed Martin posts first-quarter 2022 net income of US$1.7 billion

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Lockheed Martin Corporation has reported first-quarter 2022 net sales of US$15.0 billion, compared to US$16.3 billion in the first quarter of 2021. Net earnings in the first quarter of 2022 were US$1.7 billion, compared to US$1.8 billion in the first quarter of 2021. Cash from operations was US$1.4 billion in the first quarter of 2022, compared to US$1.7 billion in the first quarter of 2021. Free cash flow was US$1.1 billion in the first quarter of 2022, compared to US$1.5 billion in the first quarter of 2021.

“Lockheed Martin had a solid start to the year by delivering margin expansion and free cash flow above our expectations despite recent COVID-surge impacts on our operations and supply chain. We remain confident in our guidance for the remainder of the year and our growth outlook beyond,” said Lockheed Martin Chairman, President and CEO James Taiclet. (£1.00 = US$1.31 at time of publication).

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