Lockheed Martin trims delivery outlook for F-35 stealth jets

Lockheed Martin lowers 2023 F-35 delivery forecast to 97 jets from 100-120 due to delays in Technology Refresh 3 upgrade
First F-35 with TR-3 now expected in April-June 2024 instead of 2023
Lockheed stock drops nearly 5% on revised outlook though 2023 financials unchanged
F-35 is Lockheed's largest program, accounting for 27% of sales in 2022
Over a dozen countries operate or have ordered F-35s, with U.S. as largest customer

foxbusiness.com

Relevant topic timeline:

8/23/2023

Lockheed, Pratt win $1 billion in Navy deals for F-35 parts, equipment

The U.S. Navy has awarded Lockheed Martin and Pratt & Whitney over $1 billion in contracts to purchase parts and equipment for the F-35 Joint Strike Fighter, with Lockheed receiving a $347 million contract modification for helmet-mounted display systems and Pratt & Whitney receiving a contract modification valued at over $59 million for F135 engine hardware.

9/6/2023

Lockheed Stock Tanked. It’s All About the F-35 Fighter Jet.

Lockheed Martin's stock declined after the company announced that it will not be able to deliver as many F-35 fighter jets in 2023 as previously anticipated, resulting in reduced free cash flow.