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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Lockheed Martin Corp | NYSE:LMT | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.58 | 0.13% | 461.00 | 463.50 | 453.41 | 461.32 | 1,395,513 | 01:00:00 |
From Mar 2023 to Mar 2025
By Will Feuer
Lockheed Martin posted lower fourth-quarter revenue, dragged down by lower sales in its missiles and fire-control unit as well as its rotary and mission systems segment.
The Bethesda, Md., defense contractor reported earnings of $1.87 billion, or $7.58 a share, down from $1.91 billion, or $7.40 a share, in the same period a year earlier.
Stripping out severance charges and other one-time items, adjusted earnings were $7.90 a share. Analysts surveyed by FactSet expected $7.29 a share.
The company posted revenue of $18.87 billion, down less than 1%. Analysts surveyed by FactSet expected $17.96 billion.
Sales were dragged down by declines in the company's Missiles and Fire Control unit as well as its Rotary and Mission Systems segment.
For 2024, Lockheed is targeting revenue of $68.5 billion to $70 billion. Analysts expected $68.65 billion.
The company expects annual earnings of $25.65 a share to $26.35 a share. Analysts expected $26.61 a share.
The company is targeting 2024 free cash flow of $6 billion to $6.3 billion. Analysts expected $6.26 billion.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
January 23, 2024 08:00 ET (13:00 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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