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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.

Earnings preview: Verizon thrives on subscription, 5G rollout ahead of Q3 report

Verizon’s (VZ) wireless network witnessed numerous innovations before emerging as the preferred network of American households, and the efforts are paying off well. The telecom conglomerate will be publishing its third-quarter results at 7:25 AM on October 23, the first quarterly report after new CEO Hans Vestberg took office. Experts’ analysis suggests that earnings will increase by about 19% to $1.14 per share on revenues of $31.50 billion.

In recent years, Verizon brought about strategic changes to its core operation with additional focus on media, in line with the fast-changing dynamics in the highly competitive telecom sector that witnessed a slew of mergers this year. The wireless segment, which accounts for more than three-fourths of the revenue, will continue to lead the company’s business in the near future. The key to sustaining and expanding the subscriber base will be competitive pricing.

The company expects to leverage Vestberg’s technical acumen to build network infrastructure and prepare itself to take forward the recently launched 5G service. When it comes to monetizing the innovations, a lot will depend on how effectively the management executes its cost-cutting program that targets to save about $10 billion in the next three years.

The wireless segment, which accounts for more than three-fourths of the revenue, will continue to lead the company’s business

In the second quarter, adjusted earnings of New York-based Verizon climbed 25% annually to $1.20 per share, beating predictions. Meanwhile, the unadjusted profit was dragged down by one-time costs. Reflecting the strong subscriber growth and consistent customer loyalty, revenues grew 5.4% to $32.2 billion.

Verizon Q2 profit rises on subscriber growth, tops view

The company has been drawing strength from its fast-growing wireless service and positive operating cash flow across all markets to compete effectively with rivals like AT&T (T), which is scheduled to release results for the most recent quarter on October 24 before the opening bell. Nearly a year after acquiring Time Warner, AT&T recently rolled out its video-on-demand service, offering original content from HBO.

Verizon shares climbed to a 20-year high earlier this month. Over the past twelve months, the stock grew more than 10% to stay above its long-term average, while also outperforming the sector. It closed Thursday’s trading higher and continued to gain in the early trading hours Friday.

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