By Mike Stone and Aishwarya Jain
July 23 (Reuters) - Defense giant Lockheed Martin lifted its 2026 sales and profit forecasts on Thursday as the Pentagon looks to replenish weapons stockpiles amid a wave of global conflicts.
Shares of the company rose 7% in premarket trading.
President Donald Trump has been urging defense contractors to increase production as the U.S.-Israeli war on Iran and a prolonged Russia-Ukraine conflict drain the Pentagon's inventory.
Revenue for Lockheed's missiles and fire control business rose nearly 20% to $4.1 billion, driven by a production ramp-up of its PAC-3 and Precision Strike missiles, both of which have been used in the war on Iran in the last few months.
#jain
July 23 (Reuters) - Defense giant Lockheed Martin lifted its 2026 sales and profit forecasts on Thursday as the Pentagon looks to replenish weapons stockpiles amid a wave of global conflicts.
Shares of the company rose 7% in premarket trading.
President Donald Trump has been urging defense contractors to increase production as the U.S.-Israeli war on Iran and a prolonged Russia-Ukraine conflict drain the Pentagon's inventory.
Revenue for Lockheed's missiles and fire control business rose nearly 20% to $4.1 billion, driven by a production ramp-up of its PAC-3 and Precision Strike missiles, both of which have been used in the war on Iran in the last few months.
#jain
5 days ago
