A United Launch Alliance (ULA) Vulcan rocket sits on Space Launch Complex 41 (SLC-41) at Cape Canaveral ahead of the launch of the USSF-87 national security mission. Credit: United Launch Alliance
WASHINGTON — United Launch Alliance’s corporate parents have guaranteed a loan to the company as it addresses “financial challenges” caused by the grounding of its Vulcan Centaur rocket.
In a Securities and Exchange Commission filing about its second-quarter financial results July 23, Lockheed Martin revealed that it provided a bank guarantee for a loan taken by ULA during the quarter. Lockheed owns 50% of ULA, while Boeing owns the other half.
“During the first quarter of 2026, ULA’s Vulcan Centaur rocket experienced performance challenges that are negatively affecting ULA’s financial condition and results of operations,” Lockheed stated in the filing. “In the second quarter of 2026, we agreed to guarantee certain ULA borrowings under which maximum potential future payments amount to $500 million.”
“The fair value of the guarantee obligation we recognized in the second quarter of 2026 amounts to $64 million and our investment in ULA has increased by a corresponding amount,” it added.
