US DoD, Lockheed Tout Handshake Deal For 375 F-35 Fighter Jets: Report - Lockheed Martin (NYSE:LMT)

Reuters reported that the U.S. Department of Defense agreed with Lockheed Martin Corp LMT to build about 375 F-35 fighter jets over three years.
The report also added that the price of the most common version of the aircraft would increase due to inflation and slower production.
"We are pleased to announce that the Department and Lockheed Martin reached a handshake agreement for the next F-35 lot buy based on 375 aircraft," the report cited William LaPlante, the Pentagon's chief weapons buyer.
Earlier, Reuters reported that the deal would cover 375 fighters and be worth about $30 billion.
The "handshake" deal is a starting point for finalizing contract pricing and award, which would take weeks to complete. So the final value of the deal and the price for each jet variant is still uncertain.
The Pentagon said the final aircraft quantity in this agreement might change based on any "adjustments made by the U.S. Congress in the FY23 budget and any orders requested by international partners."
The report also cited Lockheed saying that amid continued COVID-19 impacts and decreased F-35 quantities, the F-35 enterprise was able to achieve a cost per jet lower than record-breaking inflation trends.
Price Action: LMT shares are down 3.64% at $373.18 during the premarket session on the last check Tuesday.
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