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Lockheed Martin's Sikorsky Wins Fig Air Contract for S-76D
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Lockheed Martin Corp.’s (LMT - Free Report) business unit, Sikorsky has won a contract from Fig Air Inc., a Toronto-based VIP and corporate helicopter operator, for one S-76D helicopter.
This will mark the first delivery of the Sikorsky S-76D helicopter to a Canadian helicopter operator.
The value of the contract was not disclosed by the companies, although an estimated base price of the helicopter is pegged at $9.9 million.
Since 1979, Sikorsky has delivered over 850 S-76 helicopters to customers worldwide.
The S-76D offers the flexibility and agility of a helicopter along with the comfort, security and peace of an airliner. It features a large cabin with active vibration control and QUIETZONE technology that makes the flight extremely smooth. These advanced technologies facilitate a productive environment, thereby enabling executives and VIPs to move effortlessly between offices via a helicopter, where they can work or conduct meetings.
The VIP version comprises a personalized interior with capacity ranging between five and eight passengers. The S-76D helicopter can put its rotor system on hold, while running the engine to power the on-board air-conditioning system for secure, easy loading and unloading into the pre-cooled cabin during summers and hot weather.
Long term plans & Guidance
We believe the company has significant upside potential going forward based on the U.S. administration’s focus on Intelligence Surveillance Reconnaissance (ISR), unmanned systems, force protection, cyber security, and missile defense. Lockheed Martin had stated its plan to increase the international mix from 21% in 2016 to 25% of total sales in the upcoming years. The F-35 program identifies over 700 aircraft to be acquired by 11 international countries and nearly 50% of the projected annual orders over the next 5 years are likely to be placed by international customers.
The fiscal year 2017 budget proposal reflects an annual increase of approximately $2.2 billion over the FY 2016 enacted budget. This increase will seek to enhance spending in several key areas which will open more opportunities for Lockheed martin.
During the second-quarter earnings call, Lockheed Martin raised its 2016 outlook with revenues expected to be in the range of $50 billion to $51.5 billion, up from the earlier projection of $49.6 billion to $51.1 billion, earnings per share of $12.15–$12.45, up from the earlier projection of $11.50–$11.80.
Zacks Rank & Key Picks
Lockheed Martin currently has a Zacks Rank #3 (Hold). A few better-ranked stocks in the aerospace and defense space include Engility Holdings, Inc. , General Dynamics Corporation (GD - Free Report) and Leidos Holdings, Inc. (LDOS - Free Report) . While Engility Holdings sports a Zacks Rank #1 (Strong Buy), both General Dynamics and Leidos carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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Lockheed Martin's Sikorsky Wins Fig Air Contract for S-76D
Lockheed Martin Corp.’s (LMT - Free Report) business unit, Sikorsky has won a contract from Fig Air Inc., a Toronto-based VIP and corporate helicopter operator, for one S-76D helicopter.
This will mark the first delivery of the Sikorsky S-76D helicopter to a Canadian helicopter operator.
The value of the contract was not disclosed by the companies, although an estimated base price of the helicopter is pegged at $9.9 million.
Since 1979, Sikorsky has delivered over 850 S-76 helicopters to customers worldwide.
LOCKHEED MARTIN Price
LOCKHEED MARTIN Price | LOCKHEED MARTIN Quote
The S-76D helicopter
The S-76D offers the flexibility and agility of a helicopter along with the comfort, security and peace of an airliner. It features a large cabin with active vibration control and QUIETZONE technology that makes the flight extremely smooth. These advanced technologies facilitate a productive environment, thereby enabling executives and VIPs to move effortlessly between offices via a helicopter, where they can work or conduct meetings.
The VIP version comprises a personalized interior with capacity ranging between five and eight passengers. The S-76D helicopter can put its rotor system on hold, while running the engine to power the on-board air-conditioning system for secure, easy loading and unloading into the pre-cooled cabin during summers and hot weather.
Long term plans & Guidance
We believe the company has significant upside potential going forward based on the U.S. administration’s focus on Intelligence Surveillance Reconnaissance (ISR), unmanned systems, force protection, cyber security, and missile defense. Lockheed Martin had stated its plan to increase the international mix from 21% in 2016 to 25% of total sales in the upcoming years. The F-35 program identifies over 700 aircraft to be acquired by 11 international countries and nearly 50% of the projected annual orders over the next 5 years are likely to be placed by international customers.
The fiscal year 2017 budget proposal reflects an annual increase of approximately $2.2 billion over the FY 2016 enacted budget. This increase will seek to enhance spending in several key areas which will open more opportunities for Lockheed martin.
During the second-quarter earnings call, Lockheed Martin raised its 2016 outlook with revenues expected to be in the range of $50 billion to $51.5 billion, up from the earlier projection of $49.6 billion to $51.1 billion, earnings per share of $12.15–$12.45, up from the earlier projection of $11.50–$11.80.
Zacks Rank & Key Picks
Lockheed Martin currently has a Zacks Rank #3 (Hold). A few better-ranked stocks in the aerospace and defense space include Engility Holdings, Inc. , General Dynamics Corporation (GD - Free Report) and Leidos Holdings, Inc. (LDOS - Free Report) . While Engility Holdings sports a Zacks Rank #1 (Strong Buy), both General Dynamics and Leidos carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>