U.S. weapons maker Lockheed Martin Corp's first-quarter results surpassed Wall Street targets on Tuesday despite parts and labor shortages, as simmering geopolitical tensions fueled demand from both U.S. and international customers.
Bethesda, Maryland-based Lockheed reported GAAP earnings per share of $6.61, which included non-operational gains of $0.18 per share, and adjusted earnings of $6.43 per share for the first quarter ended March 26. Analysts were expecting profits of $6.06 per share.made by Lockheed from the U.S. for about $1.96 billion as it boosts defense spending over issues with China's presence in the Indo-Pacific region.to Canada in a $14.
Supply-chain issues stemming from the pandemic are still hurting F-35 production volumes though, pulling down sales at the company's aeronautics unit - its largest - by about 2.1% to $6.27 billion in the quarter. Lockheed's order backlog also fell to $145.1 billion as of quarter-end from $150 billion at the end of 2022.
The missiles maker reaffirmed its full-year outlook, projecting net sales in the range of about $65 billion to $66 billion and profits between $26.60 per share and $26.90 per share.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lockheed Martin Got $106 From the Average Taxpayer, While Renewables Got Just $6The average U.S. taxpayer in 2022 spent over four times as much on Pentagon contractors than on primary and secondary education.
Read more »
Lockheed tops Q1 estimates as sales inch higherLockheed Martin Corp.’s stock rose 1.4% premarket Tuesday, after the defense and aerospace company posted better-than-expected first-quarter earnings. The...
Read more »
M&T Bank Corp beats profit estimates as interest income doublesM&T Bank Corp beat Wall Street estimates for first-quarter profit on Monday, as the U.S. Federal Reserve's rapid rate hikes to tame high inflation boosted the lender's interest income.
Read more »
G.R.R. Martin Reveals Likely The Hedge Knight Episode Count & DetailsGeorge R.R. Martin revealed what the A Knight of the Seven Kingdoms: The Hedge Knight episode count will be.
Read more »
George R.R. Martin talks HBO’s ‘A Knight of the Seven Kingdoms: The Hedge Knight’The latest 'Game of Thrones' prequel is based on Martin's Dunk & Egg novellas.
Read more »