Jay Malave on production ramp
From Lockheed Martin CFO discusses efforts to meet increased demand for weapons in Ukraine · · CNBCTelevision
“We believe that we can. Between now and 2024, that gives us time to continue to work with our supply chain... we have anywhere between up to 500 people at our supply chain today to help them with their operations and improve to the level of production levels we need.”
On , Jay Malave, Chief Financial Officer at Lockheed Martin Corp, spoke about production ramp during Lockheed Martin CFO discusses efforts to meet increased demand for weapons in Ukraine on CNBCTelevision.
About Jay Malave
In an October 2022 interview with CNBC, Lockheed Martin CFO Jay Malave discussed the company's financial outlook and the impact of supply chain issues. Malave stated that supply chain problems had caused declines on the F-35 and F-16 programs, leading the company to lower its sales forecast by about $750 million in the second quarter of 2022. He said the company expects these pressures to continue through 2023 but anticipates a rebound in 2024, with orders and backlog expected to grow in 2023 and continued growth in 2025 and beyond. Regarding foreign military sales, Malave said Lockheed Martin takes its lead from the U.S. government on policy decisions about where and when to make sales. He noted that the company has not seen a significant impact from electronic component shortages and has a good line of sight for the next 12 to 24 months. Malave also said Lockheed Martin spends north of $1.5 billion on independent research and development across 14 technology roadmaps, with about 80% of that spending directed toward countering major global powers.