Lockheed Martin agrees to pay about $29.5m to settle DOJ and EEOC discrimination claims

Lockheed Martin (LMT) will pay $29.5M to settle claims of discrimination in its diversity programs. The DoJ and EEOC allege the company favored certain races and sexes in employment decisions. Lockheed denies wrongdoing. The settlement includes $22M to the government and $7.5M to affected employees. The case highlights risks for government contractors in DEI practices.

Lockheed Martin (LMT) won an $80M contract to modernize and maintain U.S. Air Force mission planning software, with work starting in 2027 and ending in 2030. The task order covers software engineering, maintenance, and architectural updates. Initial funding is $1.368M, with potential for more. The contract is for sustaining existing systems, not new weapons.

Lockheed Martin secured a $1.08B contract for the U.S. Army's Future Interceptor program, developing the PAC-3 Edge missile. The project, valued at $1.08B, aims to complement existing air defense systems and counter hypersonic and ballistic missiles. Lockheed Martin will invest $423M, with $660.4M from government funding. The missile is expected to fill a gap between PAC-3 MSE and THAAD systems, with testing planned for 2027 and deployment by 2031.

Lockheed Martin received a $694 million contract for the AGM-183A ARRW missile program, despite previous technical failures and delays. The US Pentagon is prioritizing the program again, but operational readiness remains uncertain. Russia's hypersonic weapons are already operational, giving it an advantage over the US. Hypersonic weapons are critical for modern military strategy due to their speed and maneuverability, complicating missile defense systems.

Lockheed Martin plans a $420 million investment in its Camden, Arkansas facility, adding 650 jobs over five years. The expansion will boost production of PAC-3 interceptors, THAAD, and PrSM. The company cited the need for faster manufacturing and delivering capabilities to warfighters. Arkansas officials praised the project for its economic and defense benefits.

Lockheed Martin (LMT) responded to Greece's selection of Brazil's KC-390 aircraft, touting the C-130's production record. Greece signed an agreement for up to six KC-390s, with deliveries starting in 2027. The KC-390 offers aerial refuelling and a 26-tonne cargo capacity. Embraer (ERJ) welcomed Greece's decision, marking the KC-390's growing adoption in Europe.