Lockheed Martin Corporation (NYSE: LMT) reported its financial results for the quarter ended March 31, 2020 today.
Lockheed posted a 0.8% rise in earnings for the first quarter of 2020 helped by lower interest expense and operating income despite a rise in income tax expense and increased cost of sales. The company lowered its financial guidance for fiscal 2020 to reflect the currently expected impacts related to the COVID-19 global pandemic.
The ultimate impact of the virus on the corporation’s financial outlook for 2020 remains uncertain. The company lowered its full-year net sales outlook to the range of $62.25-64 billion from the prior range of $62.75-64.25 billion while maintaining its EPS guidance of $23.65-23.95.
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