Lockheed Martin wins $209M Navy electronic warfare deal

Lockheed Martin received a $209 million contract modification from the U.S. Navy. The award went to its Rotary and Mission Systems division for the production of Surface Electronic Warfare Improvement Program AN/SLQ-32(V)6 systems.

The contract includes options that could raise its cumulative value to approximately $1.71 billion. Work will take place in Liverpool, New York, and Lansdale, Pennsylvania, with expected completion by September 2029. The systems help naval ships detect, identify, and counter electromagnetic threats.

Shares of Lockheed Martin have fallen 0.9% over the past year, outperforming a 19.8% decline across its industry. The stock trades at a forward 12-month price-to-sales multiple of 1.39 times, below the industry average of 2.12 times. Zacks Consensus Estimates for the company's 2026 and 2027 earnings have risen over the past 60 days.