LMT Earnings: Highlights of Lockheed Martin’s Q2 2024 financial results

Lockheed Martin Corporation (NYSE: LMT) Tuesday reported a year-over-year increase in net sales for the second quarter of 2024. The management raised its fiscal 2024 guidance.

The aerospace company reported second-quarter 2024 net sales of $18.12 billion, compared to $16.69 billion in the prior-year period. Cash from operations was $1.87 billion in Q2, while free cash flow came in at $1.51 billion.

Second-quarter net profit was $1.64 billion or $6.85 per share, compared to $1.68 billion or $6.63 per share in the corresponding period last year. The company raised its full-year sales guidance to $70.5-71.5 billion and EPS estimate to $26.10-26.60

“Over the past few months, Lockheed Martin’s people, systems, and platforms have again demonstrated their ability to enhance security in Eastern Europe, the Red Sea, and the Middle East. From the PAC-3’s critical role in air defense to the Aegis Combat System with AI augmentation to the F-35 with its advanced sensor and data management capabilities, our company has made major contributions to allied and partner defense,” said Lockheed Martin’s CEO Jim Taiclet.

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