Net sales rose 4.1% to $14.4 billion. The company posted year-over-year sales increases in three of its business segments.
Looking ahead into the full year 2019, the company predicts net sales in the range of $55.75 billion to $57.25 billion and earnings in the range of $19.15 to $19.45 per share. Business segment operating profit is expected to be $6 billion to $6.15 billion.
The company expects the 2019 net FAS/CAS pension benefit to be about $1.5 billion based on a 4.25%, a negative 5% return on plan assets in 2018, a 7% expected long-term rate of return on plan assets in future years, and the revised longevity assumptions released during the fourth quarter of 2018 by the Society of Actuaries.
In the Aeronautics segment, sales increased 4% primarily attributable to higher net sales for the F-35 and the F-16 programs due to increased volume. In Missiles and Fire Control, net sales improved 22%, primarily due to higher sales for tactical and strike missiles programs as well as integrated air and missile defense programs.
In Space, segment sales rose 2%, driven primarily by higher sales in Orion program, strategic and missile defense programs, and government satellite programs. However, Rotary and Mission Systems segment sales fell 4% in the quarter, due to lower sales for Sikorsky helicopter programs, which reflect lower volume for Black Hawk production.
Shares of Lockheed Martin ended Monday’s regular session up 0.29% at $287.87 on the NYSE. The stock has fallen over 16% in the past year and over 5% in the past three months.