Commercial

Sikorsky Sees Decrease in Sales, Profits During Q3 2017

By S.L. Fuller | October 24, 2017

Thai Aviation Services Sikorsky S92 S76

Thai Aviation Services' Sikorsky S-92 and S-76. Photo by Ned Dawson

Lockheed Martin’s net sales increased by more than $10 billion in the third quarter of 2017 compared to the same quarter of 2016. But the financial report showed that Sikorsky had a decrease of $85 million.

This decrease, the Sikorsky parent said, is primarily due to aircraft mix, partially offset by adjustments made in 2016 to account for the company’s acquisition. Despite the decrease in net sales, the Rotary and Missions Systems division ended Q3 2017 about the same way it ended Q3 2016. The division netted an increase of $95 million, compared to the same quarter last year, at $3.35 billion.

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The division’s operating profit was also comparable with the same period in 2016, Lockheed Martin said. It did, however, decrease for Sikorsky programs by about $20 million. The company gave the same reasons: aircraft mix and acquisition adjustments. The decreases were offset by an increase of some $35 million for training and logistic service programs.

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