Lockheed Martin Confirms New CFO, Evan Scott Takes Over For Jesus 'Jay' Malave

Lockheed Martin Corp (NYSE:LMT) announced on Thursday that it has named Evan Scott its CFO, effective immediately.

Scott succeeds Jesus “Jay” Malave, who advised the company that he was pursuing other opportunities.

Scott, a 26-year Lockheed Martin finance executive, has served as the company’s Treasurer and the CFO of two business areas.

Also Read: Lockheed Martin Sentiment Hit By Charges And Headwinds, But Analysts Remain Bullish On F-35 Ramp Up

The company will hold its first quarter 2025 earnings results webcast on April 22. 

James Taiclet and Maria Ricciardone, vice president, Treasurer, and Investor Relations, will reaffirm the company’s previously issued 2025 guidance, exclusive of the evolving impacts of tariffs and the recent Next Generation Air Dominance announcement. They will also provide updates on other key topics and answer questions.

Lockheed Martin expects fiscal 2025 net sales of $73.75 billion-$74.75 billion versus the consensus of $74.28 billion. It projects EPS for the fiscal of ~$27-$27.30 versus the consensus of $27.24.

In March, BofA Securities analyst Ronald J. Epstein downgraded Lockheed Martin from Buy to Neutral and cut its price forecast from $685 to $485. The White House and U.S. Air Force (USAF) selected Boeing Co (NYSE:BA) over the company as the winner of the $20 billion contract for the Next Generation Air Dominance (NGAD) program, replacing Lockheed Martin’s F-22 Raptor. While defense budgets will likely increase, concerns remain regarding Lockheed Martin’s recent earnings quality, the loss of all six next-generation manned tactical aircraft programs, and the absence of near-term company-specific catalysts, adds the analyst.

LMT Price Action: Lockheed Martin shares are down 4.83% at $454.89 at last check Thursday.

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