Lockheed Martin Executive Vice President and Chief Financial Officer Bruce Tanner told an aerospace conference last week that the company’s Sikorsky division is underperforming.
According to Inside Defense, Tanner told the Cowen & Co. Aerospace/Defense & Industrials Conference on Feb. 8 that he expects Sikorsky – the Shelton aircraft manufacturer that Lockheed acquired in 2015 for nearly $9 billion – to experience flat commercial sales for at least the short term.
“We don’t have any expectation of commercial bouncing back . . . in (the next) three-year period at all,” he said. “Anything that happened on top of that would be very fortuitous for us.”
“Sikorsky’s revenue is probably a little lower than we had expected when we acquired it,” Tanner said. “Definitely in the commercial side it’s lower than when we first acquired it.”