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Lockheed Martin Increases 2020 Outlook - Quick Facts

(RTTNews) - Lockheed Martin Corp. (LMT) said, for fiscal 2020, the company increased its guidance for earnings per share to a range of $23.75 - $24.05 from prior guidance range of $23.65 - $23.95. Net sales are now anticipated to be in a range of $63.50 billion - $65.00 billion, revised from prior guidance range of $62.25 billion - $64.00 billion.

Second quarter net earnings were $1.6 billion, or $5.79 per share, compared to $1.4 billion, or $5.00 per share, a year ago. On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $5.72, for the quarter. Analysts' estimates typically exclude special items.

Second quarter net sales were $16.2 billion, compared to $14.4 billion, previous year. Analysts expected revenue of $15.23 billion for the quarter.

Cash from operations in the second quarter of 2020 was $2.2 billion, compared to $1.7 billion, last year.

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