Lockheed Martin Corporation (NYSE:LMT) Q3 2024 Earnings Conference Call October 22, 2024 11:00 AM ET

Company Participants

Maria Ricciardone - Vice President, Treasurer and Investor Relations
James Taiclet - Chairman, President and CEO
Jay Malave - Chief Financial Officer

Conference Call Participants

Ronald Epstein - Bank of America
Sheila Kahyaoglu - Jefferies
Noah Poponak - Goldman Sachs
Myles Walton - Wolfe Research
Douglas Harned - Sanford C. Bernstein & Co.
Richard Safran - Seaport Research Partners
David Strauss - Barclays Bank
Jason Gursky - Citi Research
Rob Stallard - Vertical Research Partners

Operator

Good day, and welcome everyone to the Lockheed Martin Third 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, Steve, and good morning. I'd like to welcome everyone to our third 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've 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'll turn the call over to Jim.

James Taiclet

Thanks, Maria. Good morning, everyone, and thank you for joining us on our third quarter 2024 earnings call. The demand for Lockheed Martin systems and services remains robust across all four of our business areas. We ended Q3 with record backlog of more than $165 billion, reflecting a book-to-bill ratio of 1.3 in the quarter. Precision and Air defense munitions drove the increase, including large orders for Javelin, guided multiple launch rockets and joint air-to-surface standoff and long-range antiship missions.