Lockheed Martin Corp (LMT) is set to take flight as it gears up to unveil its third-quarter financial results on Tuesday. The aerospace and defense giant has a history of exceeding analyst expectations, and this quarter is anticipated to be no different. With a robust backlog of contracts, strategic acquisitions, and an expanding presence in the space sector, Lockheed Martin is poised for another impressive performance.
Analysts are projecting earnings of $6.50 per share and revenue of $17.351 billion for the quarter, based on Benzinga Pro data. Investors are particularly eager to hear updates on Lockheed Martin’s recent acquisition of satellite manufacturer Terran Orbital Corp, which positions the company to capitalize on the burgeoning space economy. The company also secured an impressive $5.1 billion in new contracts, further solidifying its position as a leading defense contractor.
Deutsche Bank analyst Scott Deuschle is bullish on Lockheed Martin’s prospects, particularly in the space sector. He has maintained a Buy rating for the company and increased his price target from $600 to $620, highlighting the company’s potential for growth in this rapidly evolving field.
Furthermore, Lockheed Martin stands to benefit from potential changes in U.S. export restrictions. The Biden administration is reportedly planning to relax these restrictions, allowing U.S. space companies to export satellites and related items to allied nations. This move aims to boost sales within the commercial space sector while ensuring national security, creating a favorable environment for Lockheed Martin’s expansion.
In anticipation of the earnings report, Susquehanna analyst Charles Minervino has also expressed optimism, maintaining a Positive rating for Lockheed Martin and raising his price target from $565 to $705. The analyst’s confidence reflects the positive momentum surrounding the company and its promising growth trajectory. With a strong financial performance and a strategic focus on the space sector, Lockheed Martin is poised to continue its upward trajectory in the coming months.