Losses on two international programs at Sikorsky affected second quarter results for its parent Lockheed Martin. Lockheed recorded $570 million in pretax losses on Sikorsky’s Canadian maritime helicopter program, and $95 million on its Turkish utility helicopter program. Those were in addition to $950 million in losses on Lockheed Aeronautics’ classified program. Overall the company […]
Losses on two international programs at Sikorsky affected second quarter results for its parent Lockheed Martin.
Lockheed recorded $570 million in pretax losses on Sikorsky’s Canadian maritime helicopter program, and $95 million on its Turkish utility helicopter program.
Those were in addition to $950 million in losses on Lockheed Aeronautics’ classified program.
Overall the company reported earnings of $1.46 per share, down from $6.85 per share in the same quarter last year. Revenue increased slightly to $18.2 billion. The results failed to meet analysts’ forecasts.
Charges and pretax losses impacted earnings by a total of $5.83 per share.
Lockheed said it is in ongoing discussions with the Canadian government to potentially restructure the helicopter contract and expand the scope of work.
“Communications with the customer during the second quarter of 2025 led to subsequent decisions made by the Company to focus on providing additional mission capabilities, enhanced logistical support, fleet life extension, and revised expectations regarding flight hours,” the company said in the release announcing its results.
Lockheed said it is also in similar discussions over the Turkish program
