Lockheed Martin wins $8.4B missile contract modification

Investing.com - Lockheed Martin Corp. (NYSE: LMT) was awarded an $8.4 billion contract modification to expand production of Precision Strike Missiles, the Department of War announced Tuesday.

The modification increases the ceiling and extends the ordering period for the Grand Prairie, Texas facility to boost production capacity of Precision Strike Missiles Increment One. The contract also covers procurement of Early Operational Capability assets, follow-on production, development, and obsolescence management through fiscal 2032.

The modification brings the total cumulative face value of contract W31P4Q-25-D-0010 to $13.3 billion. Work locations and funding will be determined with each order.

The estimated completion date is Sept. 30, 2032. Army Contracting Command, Redstone Arsenal, Alabama, is the contracting activity.

The original contract W31P4Q-25-D-0010 was valued at $4.9 billion before Tuesday's modification P00007.

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