Lockheed Martin Cashes in on Global Defense Boom With Record Orders
Lockheed Martin Corp. (NYSE: LMT ) stock rose Thursday after the defense contractor reported second-quarter results that topped Wall Street expectations and raised its full-year guidance on stronger sales, earnings and defense demand. The company reported GAAP diluted earnings of $7.94 per share, beating the analyst consensus estimate of $7.09, according to Pro. Revenue increased 11% year over year to $20.063 billion, exceeding the Street estimate of $19.344 billion. Profit Rebounds As Prior-Year Charges Fade Net earnings climbed to $1.836 billion from $342 million a year earlier. Consolidated operating profit rose to $2.479 billion from $748 million, while segment operating profit increased to $2.162 billion. The improvement reflected the absence of $1.615 billion in program losses that weighed on results in the prior-year quarter. All Four Business Segments Grow Aeronautics revenue...
Lockheed Martin Corp. (NYSE: LMT ) stock rose Thursday after the defense contractor reported second-quarter results that topped Wall Street expectations and raised its full-year guidance on stronger sales, earnings and defense demand. 09, according to Pro. 344 billion.
836 billion from $342 million a year earlier. 162 billion. 615 billion in program losses that weighed on results in the prior-year quarter. 112 billion, driven by higher F-35 production.
Operating profit improved to $760 million from a loss of $98 million a year earlier. 101 billion as production ramped up for PAC-3, THAAD and the Precision Strike Missile. 5%. 354 billion.
Operating profit reached $437 million, compared with an operating loss of $172 million a year earlier. 496 billion, while operating profit edged up 2% to $371 million. Defense Spending Drives Growth Lockheed said higher demand from the United States and allied nations supported growth across all four business segments. Increased spending on missile defense and munitions also contributed to stronger orders and sales.
S. and Rheinmetall in Europe. 416 billion. The backlog included a $35 billion multiyear THAAD interceptor contract.
The company delivered 19 F-35 aircraft, two F-16s, seven C-130Js and 16 government helicopters during the quarter. 917 billion. Capital expenditures were $318 million, research and development spending totaled $558 million, and dividend payments were about $800 million. 538 billion.
86. 135 billion. 2 billion and increased sales outlooks across all four business segments. 10 at the time of publication on Thursday, according to Pro data.
15 Trillion Defense Package