Lockheed Martin Corp. caught investors off guard with $1.6 billion in charges and a possible tax hit that sent its stock tumbling, the latest setback for the defense giant whose popular F-35 jet faces criticism over cost overruns and delays.

Lockheed Martin reported on Tuesday that its second-quarter profit plunged by about 80%, after the U.S. defense group recorded a pretax loss of $1.6 billion, mainly linked to a classified program within its Aeronautics segment,

The deal would come after the country's ministry of public security held protracted talks since at least 2022 with multiple U.S. defence companies to acquire helicopters. Lockheed Martin is also negotiating with Vietnam's defence ministry the sale of C-130 military transport planes, multiple officials have said.

Lockheed Martin reported on Tuesday that its second-quarter profit plunged by about 80%, after the U.S. defense giant recorded pre-tax losses of $1.6 billion, mainly linked to a classified program within its Aeronautics segment.

Electra 10E Today, in 1936, American aviation pioneer Amelia Earhart took delivery of her Lockheed Electra 10E Special (NR16020).

Roughly 60 percent of the company’s space at Fossil Creek Business Park is now up for sublease as the defense contractor favors remote work.

Lockheed Martin stock tumbled Tuesday as the defense contractor announced $1.6 billion in program losses and slashed its full-year profit forecast.

This partnership between UCF and Lockheed Martin is an example of how Florida leads in workforce education,' Gov. DeSantis said.

Lockheed Martin’s quarterly profit was hit by more than $1.7 billion in charges during the second quarter.

The defense contractors’ stocks move in opposite directions after Lockheed discloses $1.6 billion in losses on its legacy defense business.