Earnings: A snapshot of Lockheed Martin’s (LMT) Q3 2023 results

Aerospace company Lockheed Martin Corporation (NYSE: LMT) Tuesday reported higher sales for the third quarter of 2023. The company also reaffirmed its full-year guidance.

The company reported third-quarter 2023 net sales of $16.9 billion, compared to $16.6 billion in the prior-year period. The management also reaffirmed its guidance for fiscal 2023.

Third-quarter net profit was $1.7 billion, slightly lower than the $1.8 billion profit reported in the corresponding period of last year. On a per-share basis, earnings were $6.73 per share, compared to $6.17 per share last year.

“Our backlog remains robust at $156 billion as both domestic and international orders were strong. Moreover, our 21st Century Security strategy is resulting in new business successes, including the award of the transformational AIR6500 integrated air and missile defense program by the Australian Defence Force, which will serve as a blueprint for future joint all-domain operations worldwide,” said Lockheed Martin’s CEO Jim Taiclet.

Prior Performance