Lockheed Earnings Strong as Tensions Rise, F-35 on Track. Stock Should Rise.

Defense giant Lockheed Martin turned in a solid quarter amid rising global tensions and intensifying war between Israel and Hamas. Conflict has boosted shares, and these results should help keep the price stable.

Free cash flow was a highlight, coming in at $2.5 billion, above Wall Street’s estimate of $1.7 billion. Backlog finished the quarter at $156 billion, just down from a record $158 billion at the end of the second quarter. With one quarter left in 2023, financial guidance was reaffirmed. Management still expects to generate earnings per share of about $27.10 from sales of about $66.5 billion. That leaves about $7.22 a share and $18 billion in sales for the fourth quarter. Wall Street is currently projecting $7.28 a share and $18.1 billion in sales.

Malaysia Malaysia Latest News, Malaysia Malaysia 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 »

Stock futures rise slightly to kick off a busy earnings week: Live updatesMarkets faced an uncertain week ahead as earnings season heats up and developments in the Israel-Hamas war left investors wary.
Source: CNBC - 🏆 12. / 72 Read more »

Asia stocks rise on earnings hopes; keep wary eye on Mideast tensionsAsia stocks rise on earnings hopes; keep wary eye on Mideast tensions
Source: Investingcom - 🏆 450. / 53 Read more »

Tesla, Goldman, Netflix, Lockheed, TSMC, and More Stocks to Watch This WeekThird-quarter earnings season picks up this week with reports from Morgan Stanley, Bank of America, Tesla, Goldman Sachs, Netflix, TSMC, Johnson & Johnson,...
Source: MarketWatch - 🏆 3. / 97 Read more »