Categories Earnings, Other Industries

Defense programs to drive Lockheed Martin Q3 results

Lockheed Martin (LMT), the biggest defense contractor in the country, is set to post its third-quarter results on Tuesday before the market closes. Higher sales from the F-35 and the F-22 programs are expected to drive the top line for the company during the quarter.

Analysts, on an average, expect Lockheed Martin to report earnings of $4.31 per share on a revenue of $13.05 billion for the third quarter. During the same quarter last year, the company reported earnings of $3.24 per share on revenue of $12.17 billion. A majority of the analysts recommend a “hold” rating on the stock with an average price target of $381.39.

Production volumes of F-35 and F-22 programs are likely to inch higher, which could be a major sales driver in the Aeronautics division. Meanwhile, the division is likely to experience lower production volumes for the C-5 aircraft.

Experts believe that sales from Missile and Fire Control systems would be driven by a rise in the volume of classified programs, tactical missiles programs, sensors, and global sustainment programs. Higher air and missile defense program volume are also expected to drive the divisional sales.

In the Space segment, higher volume from the strategic and missile defense programs are anticipated to offset the weak volumes forecast in the government and commercial satellite programs for the third quarter. Radar surveillance systems programs are likely to drive the company’s Rotary and Mission Systems divisional results.

Lockheed Martin is likely to update its full-year 2018 guidance. Net sales were predicted to be between $51.6 billion and $53.1 billion and EPS was projected in the range of $16.75 to $17.05. Business segment operating profit is expected to be $5.575 billion to $5.725 billion.

Shares of Lockheed Martin inched up 0.3% to $328.86 at 10:38 am EDT on the NYSE. The stock has risen over 4% in the past year and over 2% in the year so far.

 

Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text.

Most Popular

MU Earnings: Micron’s Q4 profit declines but beats estimates

Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection. On an adjusted

What are Philip Morris’ (PM) anticipations for the near term?

Shares of Philip Morris International Inc. (NYSE: PM) were down 1% on Thursday. The stock has dropped over 9% year-to-date. Although the tobacco industry has felt the pinch of inflation,

Key highlights from CarMax (KMX) Q2 2023 earnings results

CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,

Tags

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