Episode Details

Is Lockheed Martin still a defense contractor, or is it becoming a regulated utility with stealth fighters? In this episode, Susie and Miro break down a "noisy" Q4 where a massive $479M pension charge masked a record-breaking $194 billion backlog.

The narrative has shifted from boutique manufacturing to industrial mass production, with the company pouring billions into concrete to support new 7-year "frameworks" for missile defense.🚀

We also dive into the "simulation glitches" found in the filings—why is the government suddenly referred to as the "Department of War," and what is the "One Big Beautiful Bill Act"?

Plus, we geek out on Skunk Works’ latest reveal: an F-22 controlling an autonomous drone wingman. It’s a mix of heavy industrial capex, shrinking margins, and sci-fi tech. Tune in to understand why Lockheed is trading near-term efficiency for long-term dominance. 📉📈