Lockheed Martin posts better-than-expected Q3 earnings

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Ciara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.

Lockheed Martin Corp. LMT, -0.15% said Tuesday it had net income of $1.7 billion, or $6.73 a share, in the third quarter, compared with income of $1.8 billion, or $6.71 a share, in the year-earlier period. Revenue rose 2% to $16.9 billion. The FactSet consensus was for EPS of $6.67 and revenue of $16.7 billion.

“Our backlog remains robust at $156 billion as both domestic and international orders were strong,” Chief Executive Jim Taiclet said in a statement. The company is now expecting full-year sales of $66.250 billion to $66.750 billion and for EPS to range from $27.00 to $27.20. The FactSet consensus is for sales of $66.678 billion and EPS of $27.16. The stock fell 0.7% premarket and is down 9% in the year to date, while the S&P 500 SPX, +1.06% has gained 14%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Lockheed Martin Reports Earnings Tuesday. What To Expect.The company's shares are up about 10% since war broke out between Israel and Hamas.
Source: MarketWatch - 🏆 3. / 97 Read more »