Lockheed Martin Says Record Backlog Will Fuel Sales Growth 'for Years to Come'
Lockheed Martin Corp. (NYSE: LMT ) reported stronger-than-expected second-quarter results on Thursday, driven by higher sales and earnings, and ended the quarter with a record backlog of $230 billion. The backlog, the largest in the company’s history, increased by about $64 billion from a year earlier. During the quarter, Lockheed secured several major defense awards, including a $35 billion Terminal High Altitude Area Defense (THAAD) interceptor contract and a $3 billion Guided Multiple Launch Rocket System (GMLRS) contract. Earnings Beat Expectations The defense contractor reported GAAP diluted earnings of $7.94 per share, beating the analyst consensus estimate of $7.09, according to Pro. Revenue rose 11% year over year to $20.06 billion, topping Wall Street estimates of $19.34 billion. Operationally, the company resumed F-16 deliveries, increased C-130 production and advanced...
Lockheed Martin Corp. (NYSE: LMT ) reported stronger-than-expected second-quarter results on Thursday, driven by higher sales and earnings, and ended the quarter with a record backlog of $230 billion. The backlog, the largest in the company’s history, increased by about $64 billion from a year earlier. During the quarter, Lockheed secured several major defense awards, including a $35 billion Terminal High Altitude Area Defense (THAAD) interceptor contract and a $3 billion Guided Multiple Launch Rocket System (GMLRS) contract.
09, according to Pro. 34 billion. Operationally, the company resumed F-16 deliveries, increased C-130 production and advanced development of its Grizzly counter-unmanned aerial system. Management also said it continued investing in advanced manufacturing, artificial intelligence and strategic partnerships to improve efficiency and support long-term growth.
4 billion backlog provides strong visibility into future growth after securing $65 billion in new orders during the second quarter, including a multiyear THAAD interceptor contract, new radar awards and strategic Space wins. 1 billion. Management said the deep backlog is expected to support sales growth for years to come. 25 per share.
86. 0 billion. 14 billion. 7 billion.
08 billion. The company expects mid-single-digit sales growth in the second half, driven by higher F-35 production and sustainment activity. 9 billion. 35 billion.
Management said growth should accelerate in the second half as munitions production expands. 1 billion. 89 billion. The company expects stronger second-half growth, supported by radar programs and higher Sikorsky production.
05 billion. Management expects the business to deliver stronger growth in the second half, driven by the Next Generation Interceptor, Fleet Ballistic Missile programs and classified national security initiatives. 60 during premarket trading on Friday, according to Pro data. 54% in the previous session.
15 Trillion Defense Package