Lockheed Martin Corporation (NYSE: LMT) Tuesday reported mixed results for the third quarter of 2024. The company increased its quarterly dividend by 5%.
The aerospace company reported third-quarter 2024 net sales of $17.1 billion, compared to $16.9 billion in the prior-year period. Cash from operations was $2.4 billion in Q3, while free cash flow came in at $2.1 billion.
Third-quarter net profit was $1.62 billion or $6.80 per share, compared to $1.68 billion or $6.73 per share in the corresponding period last year. The company raised its quarterly dividend by 5% to $3.30 per share.
“In the third quarter, we advanced our strategic, operational, and financial priorities, as demonstrated by our record backlog of more than $165 billion, 48 F-35 deliveries, increased production on missile programs, and $2.1 billion of free cash flow generation,” said Lockheed Martin’s CEO Jim Taiclet.