Results for: Lockheed Martin

Lockheed Martin Corporation (NYSE: LMT) has announced strong financial results for the first quarter of 2024, with a significant increase in sales and a solid backlog that underscores the company’s alignment with customer missions and priorities.

Sales for the quarter reached $17.2 billion, up 14% year-over-year, driven primarily by Missile and Fire Control (MFC) and Rotary and Mission Systems (RMS) segments. Lockhee maintained a robust backlog of $159 billion, reflecting continued demand for its advanced technologies and solutions.

Key takeaways from Q1 2024 include:
* 14% year-over-year growth in net sales to $17.2 billion, with a $159 billion backlog.
* Segment operating profit increased by 4% year-over-year to $1.7 billion.
* Lockheed Martin is the prime contractor for the next-generation interceptor (NGI) program and is on track for a critical design review in 2025.
* The company continues strategic collaborations with companies like Intel to enhance defense systems with high-performance U.S. semiconductors.
* Lockheed Martin remains confident in meeting its full-year financial expectations, including free cash flow in the range of $6 billion to $6.3 billion.

Despite anticipated slower growth in the second and third quarters and flattish growth in the fourth quarter, Lockheed Martin expressed optimism about its future, citing a record $33 billion backlog in its space sector and advancements in hypersonic capabilities and missile defense.

The company’s strong financial performance reflects its successful execution of customer commitments, focus on digital transformation, and strategic partnerships. Lockheed Martin aims to deliver value to both customers and shareholders while positioning itself for sustainable growth in the dynamic defense sector.

InvestingPro Insights highlight Lockheed Martin’s market position, with a $109.96 billion market capitalization and a solid revenue base. The company’s commitment to shareholder returns is evident in its 21 consecutive years of dividend increases and 41 consecutive years of dividend payments.

Tags: Lockheed Martin, LMT, Defense, Aerospace, Earnings, Q1 2024

Lockheed Martin Rotary and Mission Systems has secured a $102.06 million contract modification for the AEGIS combat system. The agreement entails capability development, system integration, and in-service sustainment for existing configurations of the system. Work will be carried out in Moorestown, New Jersey, with a completion date set for December 31, 2024. The Naval Sea Systems Command is overseeing the project.

Lockheed Martin (LMT) reported strong first-quarter results, with earnings per share (EPS) and sales exceeding Wall Street estimates. Adjusted EPS came in at $6.33, ahead of the $5.86 consensus estimate, while sales reached $17.2 billion, surpassing the $16 billion expectation. This performance was driven by growth across its business units, including jets, missiles, helicopters, and space exploration.

Lockheed Martin Corporation (LMT) reported a strong financial performance in the first quarter of 2024, surpassing analyst estimates for both earnings per share (EPS) and revenue. The company’s EPS reached $6.33, exceeding the $5.80 consensus estimate, while revenue climbed to $17.2 billion, surpassing the $16.02 billion forecast. Lockheed Martin attributed this growth to significant year-over-year sales increases and a commitment to shareholder returns through dividends and share repurchases.

Lockheed Martin Corporation (NYSE: LMT) reported better-than-expected first-quarter 2023 financial results, driven by solid growth in its various business segments. The company also raised its full-year earnings guidance, reflecting its confidence in its business outlook.

Lockheed Martin Corporation reported strong first quarter financial results, surpassing analyst estimates and raising its full-year guidance. The defense contractor posted earnings per share (EPS) of $6.39, exceeding the consensus estimate by $0.59. Revenue came in at $17.2 billion, beating the $16.02 billion forecast. Looking ahead, Lockheed Martin expects EPS in fiscal year 2024 to range between $25.65 and $26.00, which is slightly above the analyst consensus of $26.03.

Lockheed Martin (NYSE: LMT) announced strong financial results for the first quarter ended March 31, 2024, demonstrating continued growth and operational efficiency. The company reported net sales of ,, a significant increase compared to in the first quarter of 2023. Net earnings for the period were , or per share, compared to or .61 per share, in the first quarter of 2023.

Lockheed Martin’s financial performance was driven by increased demand for its advanced security solutions, particularly in the areas of aerospace, missiles, rotary and mission systems, and space. The company’s Aeronautics segment saw a 9% increase in net sales, with higher volumes on programs such as the F-35 and F-16. The Missiles and Fire Control segment reported a 25% increase in net sales, driven by production ramp-ups on tactical and strike missile programs. The Rotary and Mission Systems segment experienced a 16% increase in net sales, led by higher volumes in integrated warfare systems and Sikorsky helicopter programs. The Space segment also achieved a 10% growth in net sales, with higher volume on strategic and missile defense programs, as well as national security space programs.

Lockheed Martin’s robust financial performance also included strong cash flow generation. The company generated cash from operations of and free cash flow of during the quarter. The company’s focus on capital deployment was evident in its investment of over in R&D and capital projects and its significant return of capital to shareholders through dividends and share repurchases.

James Taiclet, Lockheed Martin’s Chairman, President and CEO, expressed confidence in the company’s ability to meet its financial expectations for the full year. He emphasized the company’s commitment to delivering meaningful free cash flow per share growth over the long term.

During the quarter, Lockheed Martin secured several large National Security Space awards, demonstrating the breadth of its portfolio and the strength of its technical expertise. The company also highlighted the progress towards delivery of the first F-35 TR-3 configured aircraft.

Lockheed Martin’s financial performance and operational achievements in the first quarter of 2024 underscore the company’s leading position in the defense and aerospace industry. The company’s innovation and open architecture solutions enable it to provide cutting-edge solutions that meet the evolving needs of its customers.