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Lockheed Martin raises 2020 profit forecast

Credit: REUTERS/KIM KYUNG-HOON

Lockheed Martin Corp raised its full-year profit forecast on Tuesday as the U.S. weapons supplier overcame supply disruptions to post higher quarterly sales in its aeronautics unit that makes the F-35 fighter jet.

July 21 (Reuters) - Lockheed Martin Corp LMT.N raised its full-year profit forecast on Tuesday as the U.S. weapons supplier overcame supply disruptions to post higher quarterly sales in its aeronautics unit that makes the F-35 fighter jet.

Net earnings rose to $1.63 billion, or $5.79 per share, in the second quarter ended June 28, from $1.42 billion, or $5 per share, a year earlier.

Lockheed said it expects 2020 earnings per share between $23.75 and $24.05, compared with its previous forecast of between $23.65 and $23.95.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Aditya Soni)

((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;))

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