Lockheed Martin sees deleveraging on the horizon for near-term debt

By Devika Patel

Knoxville, Tenn., July 18 – Lockheed Martin Corp. plans to deleverage in the near-term, refinancing or repaying some near-term debt.

“We do have some near-term debt retirement coming up, starting in 2018,” executive vice president and chief financial officer Bruce L. Tanner said on the company’s second quarter earnings conference call on Tuesday.

“That’s something that we’ll guide you towards, relative to the trend information 2018 as far as our thinking relative to refinancing that or paying that off.

“Our expectation is that we would probably do some deleveraging going forward in the near-term, those aren’t huge chunks of debt, but some of these are very short-term financing that we did to finance the Sikorsky transaction,” he said.

Lockheed Martin purchased Sikorsky for close to $9 billion in November 2015.

The company’s free cash flow was just under $1.3 billion in the second quarter.

The global security company is based in Bethesda, Md.

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