Lockheed Martin appoints new CFO as predecessor exits

BETHESDA, Md. - Lockheed Martin (NYSE:LMT), currently valued at $112 billion by market capitalization, has announced the appointment of Evan Scott as its new senior vice president and chief financial officer (CFO), effective immediately. Scott takes over from Jesus "Jay" Malave, who is leaving the company to pursue other opportunities. With 26 years of experience at Lockheed Martin, Scott has previously held roles as the company’s treasurer and CFO for two of its business areas. According to InvestingPro data, Scott inherits a company with moderate debt levels and strong financial health metrics.

The leadership transition comes as Lockheed Martin prepares to share its first quarter 2025 earnings results on Tuesday, April 22, 2025. Analysts expect the company to remain profitable, with a forecasted EPS of $27.08 for FY2025. The company plans to reaffirm its 2025 guidance, excluding certain factors like tariffs and the recent Next Generation Air Dominance program developments, during a webcast scheduled for 11 a.m. ET. The earnings results will be published prior to market opening the same day, with James Taiclet, Chairman, President, and CEO, and Maria Ricciardone, vice president, Treasurer and Investor Relations, available to provide updates and answer questions. For detailed analysis and forecasts, investors can access the comprehensive Pro Research Report available on InvestingPro.

Lockheed Martin is known for its role in the global defense sector, focusing on innovation and scientific advancement to deliver mission solutions across all domains. The company’s vision, termed 21st Century Security®, emphasizes the development of transformative technologies to maintain a strategic edge. As a prominent player in the Aerospace & Defense industry, the company has maintained dividend payments for 42 consecutive years and currently offers a dividend yield of 2.77%. Based on InvestingPro’s Fair Value analysis, the stock appears to be trading near its fair value.

This announcement is based on a press release statement from Lockheed Martin.

In other recent news, Lockheed Martin has been upgraded by Morgan Stanley from Equalweight to Overweight, with a new price target set at $575, up from $525. This reflects a more favorable view of the company’s potential, particularly in light of its international business, which comprises a significant portion of its sales and backlog. Additionally, the U.S. State Department has approved a potential $5.6 billion sale of Lockheed Martin’s F-16 fighter jets to the Philippines, a move that could bolster the strategic partnership between the two nations. This proposed sale includes 20 F-16 jets along with related equipment, further enhancing Lockheed Martin’s role in global defense.

Meanwhile, SpaceX and United Launch Alliance (ULA), a joint venture involving Lockheed Martin, are expected to secure substantial contracts from the U.S. Space Force for launching sensitive Pentagon satellites. This development underscores Lockheed Martin’s strategic positioning in the aerospace sector. Furthermore, the Trump administration is reportedly preparing to ease regulations on military equipment exports, potentially impacting defense contractors like Lockheed Martin. Investors are closely watching these developments, as they could influence the company’s financial outlook and strategic opportunities in defense exports.

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