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

Lockheed Martin shares dropped due to lower F-35 fighter jet delivery forecast
Management said fewer F-35 deliveries in 2023 than expected
Means less free cash flow for Lockheed Martin
Issues related to supply chain and labor availability
Company still sees growth opportunities with F-35 program

barrons.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.

8/25/2023

Are ‘Locusts and Boils’ Next for Boeing? Buy the Stock Anyway.

Boeing stock declines for a second day after a quality issue in the supply chain for the 737 MAX jet, but Wall Street remains optimistic.

9/6/2023

Lockheed Martin trims delivery outlook for F-35 stealth jets

Defense giant Lockheed Martin has revised its delivery outlook for F-35 stealth fighters, expecting to deliver 97 jets in 2023 instead of the previously forecasted 100-120, due to delays related to a technology upgrade.