(Reuters) -Lockheed Martin expects to be awarded a finalized contract on its F-35 jets, which have been beset by delays in a technology upgrade, sooner than it previously anticipated, the U.S. defense contractor’s finance chief said on Wednesday.
The fighter jets in lot 19 could potentially be awarded sooner than the second half of this year, which was the company’s earlier timeline, newly appointed CFO Evan Scott said at a Bank of America conference.
Ad RAD Intel
From Unknown to Unstoppable: The Pre-IPO AI Opportunity You Can Still Grab
You know that moment when a company goes from "never heard of" to "suddenly everywhere?" That's RAD Intel – and you can still invest. The company's valuation has already exploded 16X, from $5m to $85m and is growing despite market uncertainty.
Here's why insiders love them. They're helping Fortune 500 brands like Hasbro and MGM truly understand their audiences in real time - not just guess. It's AI that actually works. Pre-IPO, and fixing a multi-trillion dollar problem.
The company's proprietary AI-tech teaches brands how to create and deliver content that reads the room. RAD's tech helps brands understand why content works, who it actually resonates with, and what to say next. Now, brands can stop guessing and start making ads that actually land.
This company is on fire. Shares are just $0.60 – with backing from Adobe and Fidelity. Strength attracts strength: over 6,000 investors are in, including insiders from Google, Meta, and Amazon.
Get the full details before the next price change on 5/29.
DISCLOSURE: This is a paid advertisement for RAD Intel's Reg A offering. Please read the offering circular and related risks at invest.radintel.ai.
Lockheed’s customer has told the company to expect lots 18 and 19 to be combined into a single contract, Scott added.
The Pentagon, U.S. allies and partners are the primary customers for these lots of the F-35 jets.
The F-35 program has been bogged by delays in rolling out an upgrade to give the jet better displays and processing capabilities for its electronic systems.
Last month, Lockheed beat expectations for quarterly profit and reaffirmed its annual forecasts, buoyed by resilient demand for its missile systems and fighter jets.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Leroy Leo)
