Lockheed Martin Raises Full-Year EPS and Sales Outlook
Lockheed Martin raised its full-year EPS outlook to $30.35–$30.75 from $29.95–$30.65 and sales guidance to $80 billion–$82 billion from $79.75 billion–$81.75 billion. Its backlog reached a record $291.98 billion, up 27% since the second quarter.
Lockheed Martin lifted its full-year earnings-per-share forecast to $30.35-$30.75, from its earlier range of $29.95-$30.65. Its sales outlook also rose to 80 billion-82 billion, compared with the previous forecast of 79.75 billion-81.75 billion. The revised outlook follows a third quarter in which Lockheed Martin reported higher profit and revenue above analyst expectations. Its backlog increased 27% since the second quarter to a record 291.98 billion.
CEO Jim Taiclet credited the performance to the company’s success in applying innovation and new digital technologies to existing platforms.