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A sign for Lockheed Martin Corp. stands outside the company\u2019s headquarters in Bethesda, Maryland, U.S., on Friday, Nov. 16, 2012.\u00a0 (Andrew Harrer\/Bloomberg via Getty Images)<\/p>\n
WASHINGTON \u2014 Lockheed Martin<\/a> booked $1.6 billion in losses and $169 million for other charges during the second quarter of 2025 due to continued challenges on a classified aircraft program, the loss of the Air Force\u2019s sixth generation fighter program<\/a> and the potential restructure of two international helicopter programs, the company announced today.<\/p>\n Throughout an earnings call this morning, Lockheed CEO Jim Taiclet<\/a> attempted to assure Wall Street that the company had a clear view of potential risks and had done everything in its power to drive down the chance of future losses, with analysts repeatedly questioning executives about why investors should feel confident in Lockheed\u2019s assessments.<\/p>\n \u201cWe take these financial charges very seriously and are redoubling our focus on program management performance under existing contracts across the company, while also ensuring that all future contracts more robustly assess and account for future programs and technical risks,\u201d Taiclet said in the call.<\/p>\n The company incurred the largest loss \u2014 worth $950 million \u2014 on the classified fixed-priced aeronautics program, which has been the source of previous charges for Lockheed.<\/p>\n In a news release, Lockheed attributed the reach-forward losses on the aeronautics project to continued design, integration, and test challenges that \u201chad a greater impact on schedule and costs than previously estimated.\u201d The company completed a comprehensive review of the program in the second quarter and made \u201csignificant changes to its processes and testing approach,\u201d which in turn resulted in \u00a0additional cost and schedule delays.<\/p>\n Taiclet said changes to the program included assigning experts from across the company to improve its performance under a new risk identification and corrective action plan.<\/p>\n \u201cThis is a highly classified program that can only be described as [a] game-changing capability for our joint US and international customers, and therefore it is critical that it be successfully fielded,\u201d he said. \u201cWith our enhanced oversight of this program and rapid incorporation of lessons learned, we expect to continue to reduce risk over the next few years as we move through the key milestones of this very advanced system.\u201d<\/p>\n