(RTTNews) - While reporting financial results for the third quarter on Tuesday, Lockheed Martin Corp. (LMT) raised its earnings and net sales outlook for the full-year 2020. The company also provided net sales guidance for the full-year 2021, below the current analysts' expectations.
For fiscal 2020, the company now expects earnings from continuing operations of about $24.45 per share, compared to the prior range of $23.75 to $24.05 per share.
Net sales are now projected to be about $65.25 billion, up from the prior forecast between $63.50 billion and $65.00 billion.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $24.17 per share on net sales of $64.59 billion for the year. Analysts' estimates typically exclude special items.
The company said its financial outlook for 2020 reflects the currently expected impacts related to COVID-19, however, the ultimate impacts of COVID-19 on the corporation's financial outlook for 2020 and beyond remains uncertain.
Looking ahead to fiscal 2021, the company now projects net sales to increase to greater than or equal to $67 billion, while the Street is currently looking for net sales of $68.01 billion.
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