Lockheed Martin receives $209 million Navy contract modification for SEWIP systems
Lockheed Martin was granted a firm‑fixed‑price modification worth $208.96 million by the U.S. Navy to continue production of the AN/SLQ‑32(V)6 Surface Electronic Warfare Improvement Program. The work, split 78% in Liverpool, NY and 22% in Lansdale, PA, must be finished by September 2029. If every option is exercised, the underlying contract could total about $1.71 billion.
Why it matters
The company says the full $208.96 million is being obligated now and will not expire at year‑end, providing near‑term revenue and cash‑flow visibility. Analysts note that such a sizable, multi‑year defense award can support earnings forecasts for the fiscal 2026‑2029 period.
Key facts
- 1Lockheed Martin received a $208.96 million contract modification from the U.S. Navy. pulse2.com
- 2The modification supports production of AN/SLQ‑32(V)6 SEWIP systems under contract N00024‑20‑C‑5503. pulse2.com
- 3If all options are exercised, the total value of the underlying contract could reach approximately $1.71 billion. pulse2.com
- 4Work will be performed 78% at the Liverpool, New York facility and 22% at Lansdale, Pennsylvania. pulse2.com
- 5The award is scheduled for completion by September 2029. pulse2.com
- 6Funding sources include $129.49 million (62%) from FY 2026 shipbuilding funds, $58.15 million (28%) from FY 2026 other procurement, $20.31 million (10%) from FY 2025 other procurement, and $1.01 million from FY 2026 RDT&E. pulse2.com
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.