Markets

Lockheed Martin (LMT) Tops Q3 Earnings and Revenues

Lockheed Martin Corporation ( LMT ) is the largest U.S. defense contractor with a platform-centric focus that guarantees a steady inflow of follow-on orders from a leveraged presence in the Army, Air Force, Navy and IT programs.

Lockheed Martin generated 20% of total sales from international customers in 2014, including foreign military sales (FMS). A key catalyst is the F-35 program, which generated 17% of total consolidated net sales in 2014. The growing international mix is expected to rise further and the company reiterated its plan to increase that to 25% of total sales in the upcoming years.

Estimate Trend & Surprise History

Investors should note that the second quarter Zacks Consensus Estimate for earnings of $2.70 per share has decreased 1.1% over the last 90 days.

Coming to the earnings surprise, Lockheed Martin Corporation has surpassed the Zacks Consensus Estimate in the last four quarters, resulting in a positive average surprise of 7.30%.

Zacks Rank: Currently, Lockheed Martin has a Zacks Rank#3 (Hold) but that could change following its third quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:

Earnings : Lockheed Martin beat on earnings. Adjusted earnings per share came in at $2.77, beating the Zacks Consensus Estimate of $2.70 by nearly 2.6%.

Revenue : Revenues of $11.5 billion surpassed the Zacks Consensus Estimate of $11.0 billion by 4.5%.

Key Stats to Note : At the end of Sep 2015, Lockheed Martin's total backlog was $71.7 billion, down from $80.5 billion at end 2014.

Stock Price : The stock price moved up by 0.6% during the pre-market trading to $210.64 at the time of writing this report. It would be interesting to see how the market reacts to the earnings beat during the trading session today.

Check back later for our full write up on this LMT earnings report later!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Earnings Investing Stocks

Latest Markets Videos

Zacks

Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

Learn More