Aerospace company Lockheed Martin Corporation (NYSE: LMT) Tuesday said its sales rose 7% in the fourth quarter of 2022, but net profit declined.
The company reported fourth-quarter 2022 net sales of $19.0 billion, compared to $17.7 billion in the prior-year period. The latest number also topped expectations.
Fourth-quarter net earnings were $1.9 billion, or $7.40 per share, compared to $2.0 billion, or $7.47 per share, in the fourth quarter of 2021. Adjusted profit, excluding special items, was $7.79 per share, compared to $7.22 per share last year.
Check this space to read management/analysts’ comments on Lockheed Martin’s Q4 2022 results
Lockheed Martin’s shares gained early Tuesday following the earnings announcement, after closing the previous session lower.