{"id":18468,"date":"2018-10-23T22:18:18","date_gmt":"2018-10-23T22:18:18","guid":{"rendered":"https:\/\/one.sightlinemg.com\/defensenews\/uncategorized\/2018\/10\/23\/lockheed-would-have-lost-5b-meeting-boeings-price-on-three-recent-contracts-ceo-says\/"},"modified":"2026-08-07T21:42:30","modified_gmt":"2026-08-07T21:42:30","slug":"lockheed-would-have-lost-5b-meeting-boeings-price-on-three-recent-contracts-ceo-says","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/defensenews\/industry\/2018\/10\/23\/lockheed-would-have-lost-5b-meeting-boeings-price-on-three-recent-contracts-ceo-says\/","title":{"rendered":"Lockheed would have lost $5B meeting Boeing\u2019s price on three recent contracts, CEO says"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">WASHINGTON \u2014 Losing three major programs over the course of about a month wasn\u2019t an easy pill to swallow for Lockheed Martin. But winning them could have been even more detrimental to the company, resulting in a loss of more than $5 billion, its chief executive said Tuesday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">During a Oct. 23 earnings call with investors, Lockheed CEO Marillyn Hewson said that the company would have incurred massive losses if it had matched the winning bids put forward by Boeing on three major defense programs \u2014 likely the <a href=\"https:\/\/www.defensenews.com\/breaking-news\/2018\/09\/27\/reuters-air-force-awards-9b-contract-to-boeing-for-next-training-jet\/\" target=\"_blank\">Air Force\u2019s T-X trainer competition<\/a>, its <a href=\"https:\/\/www.defensenews.com\/breaking-news\/2018\/09\/24\/the-air-force-picks-a-winner-for-its-huey-replacement-helicopter-contract\/\" target=\"_blank\">UH-1N Huey helicopter replacement<\/a> and the <a href=\"https:\/\/www.defensenews.com\/naval\/2018\/08\/30\/us-navy-selects-builder-for-new-mq-25-stingray-aerial-refueling-drone\/\" target=\"_blank\">Navy\u2019s MQ-25 tanker drone<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe believe our proposals represented outstanding technical prices and our lowest possible pricing,\u201d she said. However the losses would have been an outcome \u201cthat we do not feel would be in the best interests of our stockholder or our customers.\u201d <\/p>\n\n\n\t<aside class=\"smg-interstitial-link wp-block-smg-interstitial-link\">\n\t\t<a href=\"https:\/\/one.sightlinemg.com\/defensenews\/industry\/2018\/09\/28\/boeings-big-month-capped-off-with-hat-trick-of-new-contracts\/\" class=\"smg-interstitial-link__inner\">\n\t\t\t\t\t\t\t<div class=\"smg-interstitial-link__media\">\n\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"200\" src=\"https:\/\/one.sightlinemg.com\/wp-content\/uploads\/2026\/08\/Two-Boeing-T-X-jets-PUBLIC.jpg.jpg?w=300\" class=\"smg-interstitial-link__image wp-post-image\" alt=\"\" \/>\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"smg-interstitial-link__content\">\n\t\t\t\t<span class=\"smg-interstitial-link__kicker\">Related<\/span>\n\t\t\t\t<h3 class=\"smg-interstitial-link__title\">Boeing\u2019s big month capped off with hat trick of new contracts<\/h3>\n\t\t\t\t\t\t\t\t\t<p class=\"smg-interstitial-link__excerpt\">It&#039;s been a good couple of weeks for Boeing.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/a>\n\t<\/aside>\n\t\n\n\n<p class=\"wp-block-paragraph\">In late August, Boeing received $805 million for a contract to develop and build four MQ-25 drones. That award was followed a month later by a $2.38 billion contract for Huey replacement helicopters, which the Air Force estimates shaved $1.7 billion of the projected value of the program. Then, just days later, Boeing nabbed another victory, this time a $9.2 billion award for T-X that basically cut the Air Force\u2019s $19.7 billion cost estimate in half.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Lockheed was the only company that vied against Boeing in all three competitions. It declined to protest Boeing\u2019s wins \u2014 as did all other losing vendors \u2014 likely because Boeing\u2019s aggressive bidding strategy and willingness to accept risk resulted in a low price other companies couldn\u2019t match.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Asked by one analyst whether Boeing\u2019s \u201clow-ball bids\u201d could impact the outlook for future sales, Hewson said she couldn\u2019t project how other companies would bid, but noted that Lockheed had observed an increased emphasis on affordability by the Defense Department \u2014 and a proclivity toward lowest price technically acceptable solutions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Lockheed\u2019s Chief Financial Officer Bruce Tanner said that it was \u201cdisappointing\u201d the three major losses occurred because the Defense Department chose a winner based on price, adding that such an approach doesn\u2019t always allow for the best technology to make its way to the battlefield.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, not all competitions adhere to the lowest-price technically acceptable approach, he said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cI think I wouldn\u2019t necessarily draw a long conclusion from three awards,\u201d he said. \u201cWe frankly won some competitions where we weren\u2019t the highest price. So I do know that you can automatically, as I said, draw a conclusion that, that\u2019s necessarily a change from on every program that\u2019s going to be competed going forward. So it\u2019s not one-size-fits-all.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lockheed CEO Marillyn Hewson said that the company would have incurred massive losses if it had matched the winning bids put forward by Boeing.<\/p>\n","protected":false},"author":7,"featured_media":36088,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_yoast_wpseo_meta-robots-noindex":"","_yoast_wpseo_meta-robots-nofollow":"","_yoast_wpseo_canonical":"","_acf":"","_yoast_wpseo_primary_category":12,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_smg_distribution_targets":[]},"categories":[7,160,12,36],"tags":[],"coauthors":[3384],"class_list":["post-18468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-air","category-daily-news-roundup","category-industry","category-newsletters"],"acf":{"subheadline":"","legacy_arc_id":"UPXMNURV4ZCPHMCG2AXUVS3TPY","arc_canonical_url":"\/industry\/2018\/10\/23\/lockheed-would-have-lost-5b-meeting-boeings-price-on-three-recent-contracts-ceo-says\/","remove_feature_photo":false,"is_sponsored":false,"subtype":"","redirect_url":"","disable_inline_ads":false,"native_logo_pretext":"Presented By:"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.0 (Yoast SEO v28.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Lockheed would have lost $5B meeting Boeing\u2019s price on three recent contracts, CEO says - Defense News<\/title>\n<meta name=\"description\" content=\"Lockheed CEO Marillyn Hewson said that the company would have incurred massive losses if it had matched the winning bids put forward by Boeing.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lockheed would have lost $5B meeting Boeing\u2019s price on three recent contracts, CEO says\" \/>\n<meta property=\"og:description\" content=\"Lockheed CEO Marillyn Hewson said that the company would have incurred massive losses if it had matched the 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