Lockheed Martin Corporation (NYSE:LMT) Q1 2024 Earnings Conference Call April 23, 2024 11:00 AM ET

Company Participants

Maria Ricciardone - VP, Treasurer & IR
Jim Taiclet - Chairman, President & CEO
Jay Malave - CFO

Conference Call Participants

Doug Harned - Bernstein
David Strauss - Barclays
Peter Arment - Baird
Matt Akers - Wells Fargo
Ron Epstein - Bank of America
Rob Spingarn - Melius Research
Rob Stallard - Vertical Research
George Shapiro - Shapiro Research
Noah Poponak - Goldman Sachs
Rich Safran - Seaport Research Partners

Operator

Good day, and welcome everyone to the Lockheed Martin First Quarter 2024 Earnings Results Conference Call. Today's call is being recorded. [Operator Instructions].

At this time for opening remarks and introductions, I would like to turn the call over to Maria Ricciardone, Vice President, Treasurer and Investor Relations. Please go ahead.

Maria Ricciardone

Thank you, Lois, and good morning. I'd like to welcome everyone to our first quarter 2024 earnings conference call. Joining me today on the call are Jim Taiclet, our Chairman, President and Chief Executive Officer; and Jay Malave, our Chief Financial Officer.

Statements made in today's call that are not historical facts are considered forward-looking statements and are made pursuant to the Safe Harbor provisions of federal securities law. Actual results may differ materially from those projected in the forward-looking statements. Please see today's press release and our SEC filings for a description of some of the factors that may cause actual results to differ materially from those in the forward-looking statements.

We posted charts on our website today that we plan to address during the call to supplement our comments. These charts also include information regarding non-GAAP measures that may be used in today's call. Please access our website at www.lockheedmartin.com and click on the Investor Relations link to view and follow the charts.

With that, I'd like to turn the call over to Jim.

Jim Taiclet

Thanks, Maria. Good morning, everyone, and thank you for joining us on our first quarter 2024 earnings call.

I'd like to begin today's discussion with a brief overview of our quarterly financial results, the state of the U.S. Department of Defense budget, status updates on some key programs, and recent advancements made to support our vision of 21st Century security that integrates the latest digital technologies. Then Jay and Maria will provide more detailed information about quarterly highlights and financials.

The increasingly unstable geopolitical environment in the world today makes it essential for industry and government to strengthen our nation's capabilities to deter and defend against further aggressive behavior against the U.S. and our allies. We here at Lockheed Martin are continuing to invest heavily to improve our design and production capabilities, while actively partnering with leading companies inside and outside the A&D industry to incorporate a wide range of technologies.