The election of President Trump has been a boon for the Pentagon’s top weapons supplier. Under the Republicans’ proposed budget plan, the defense company would receive a higher spending budget for key programs. The new tax law has also given the company a boost: Lockheed reported its effective tax rate at 14.9% for the first quarter of this year, compared with 23.8% a year ago. The company seems to be losing speed in the space race, however: Lockheed’s space division saw a year-over-year decline in revenues, which the company said is due to lower sales of satellites.
Looking for leads, investment insights, or competitive intelligence?
News about Lockheed Martin
Must-read business news, delivered every morning.
Some highlights from our 2018 ranking.
The competition is supposedly not tied to military uses of the technology.