Categories Earnings, Finance, Other Industries

Lockheed Martin continues strong run in Q2, raises guidance

Defense company Lockheed Martin (NYSE: LMT) on Tuesday reported second-quarter earnings that surpassed Wall Street expectations. The company reported Q2 earnings of $5 per share including certain severance charges of $96 million, which was way ahead of the street projection of $4.77 per share.

Revenue grew 7% to $14.4 billion, surpassing the target of $14.2 billion set by analysts. The company reported revenue growth in all four business units.

lockheed martin  reported Q2 earnings of $5 per share  which was way ahead of the street projection of $4.77 per share.

The biggest segment, Aeronautics grew 4.3%, while Missiles and Fire Control delivered the highest growth rate of 15%. Rotary and Mission Systems revenues improved 5.6% and Space operations saw revenues jump 11%.

LMT shares gained 1.6% following the announcement. The stock has gained 35% in the year-to-date period.

CEO Lockheed Martin said, “The corporation achieved another quarter of strong operational and financial results across all four of our businesses, which allowed us to grow our backlog to a new record level and to increase our financial outlook for 2019.”

READ: Virgin Galactic vs. Blue Origin: The race to suborbital space tourism

Guidance raised

Buoyed by the better-than-expected results, Biogen raised its full-year revenue guidance to $58,250 billion – $59,750 billion, compared to the earlier guidance range of $56,750 billion – $58,250 billion.

EPS is expected to be between $20.85 and $21.15, an increase from the prior guidance range of $20.05 – $20.35.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

IPO Alert: What to look for when Boundless Bio goes public

Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.

Nike (NKE) bets on innovation and partnerships to return to high growth

Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company

Walgreens Boots Alliance set to report earnings next week. Here’s what to expect

Walgreens Boots Alliance, Inc. (NASDAQ: WBA), the drug store chain that is expanding into a diversified healthcare provider, is on a restructuring drive aimed at better aligning the business with

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top