Lockheed Martin, a defense contractor based in Bethesda, Md., reported lower fourth-quarter revenue, primarily due to declines in its missiles and fire-control unit as well as its rotary and mission systems segment.

Earnings Overview

The company’s earnings for the quarter amounted to $1.87 billion, or $7.58 per share, a decrease from $1.91 billion, or $7.40 per share, in the same period the previous year.

After excluding severance charges and other one-time items, adjusted earnings stood at $7.90 per share, surpassing analysts’ expectations of $7.29 per share.

Revenue Performance

Lockheed Martin’s revenue for the quarter reached $18.87 billion, representing a decrease of less than 1% compared to the previous year. Analysts had anticipated revenue of $17.96 billion.

The decline in sales was primarily driven by the company’s Missiles and Fire Control unit, as well as its Rotary and Mission Systems segment.

Future Projections

Looking ahead to 2024, Lockheed Martin aims to achieve revenue between $68.5 billion and $70 billion, slightly surpassing analysts’ expectations of $68.65 billion.

The company also provided insight into its anticipated annual earnings, which are projected to range from $25.65 to $26.35 per share. This falls slightly short of analysts’ expectations of $26.61 per share.

Additionally, Lockheed Martin is targeting 2024 free cash flow of $6 billion to $6.3 billion, aligning closely with analysts’ forecast of $6.26 billion.

Leave a Reply

  +  50  =  51