Lockheed Martin (NYSE:LMT) Lowers 2023 F-35 Jets Delivery Outlook

Lockheed Martin (NYSE:LMT) said Wednesday it now expects to deliver 97 F-35 aircraft in 2023, compared with its previously announced outlook of 100 of 120.

The company said it has updated its F-35 Technology Refresh 3 schedule projections and now it expects to deliver the first TR-3 jet between April and June 2024.

All the F-35 aircraft expected to be delivered in 2023 are in the TR-2 configuration, the company said, adding that the guidance will not impact its 2023 financial outlook.

The company said it is producing the jets at a rate of 156 per year and plans to continue at this pace while it works to complete TR-3 software development and testing.

For 2024, the company said that the number of deliveries will depend on when the first TR-3 is shipped and the time required to complete the customer’s acceptance process, while it is assessing impacts to that year.

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