HOME ZACKS RESEARCH FUNDS PORTFOLIO BROKER RESEARCH MARKETS SCREENING EDUCATION SERVICES
Zacks Rank    Equity Research    Premium Home    My Account    Help    
A Better Way to Make Money in Today's Market
Learn more now >>
Quote:
Login Free Membership
Search:

 
Analyst Blog  

Lockheed Beats & Ups Guidance

April 24, 2009 | Comments: 0
Recommended this article (1)
LMT
Print    Share

Lockheed Martin Reports Lower Earnings but Beats Estimates, Raises Guidance

Lockheed Martin Corp. (LMT - Analyst Report) reported a 1st quarter 2009 profit of $666 million, down 9% from $730 million in the 1st quarter of 2008.

On a per-share basis, the reported result was $1.68 per diluted share, down 4% from $1.75 per diluted share in the year ago period. The bottom-line EPS, however, beat by 2% analysts' consensus estimate of $1.64 per share.

The lower bottom-line results resulted primarily due to higher pension expenses, partially offset on a per share basis by over 8 million fewer shares outstanding through share repurchases.

The improved top-line result for the 1st quarter 2009 reported net sales of $10.4 billion, representing a 4% increase over $10.0 billion in the comparable year ago period. Sales increased in every business segment, except the Aeronautics unit, which declined primarily due to lower volumes on F-16 and F-22 programs.

Operating cash flow of $1.2 billion in the reported quarter increased 38% year-over-year.

2009 Guidance Increased

Lockheed increased is 2009 EPS guidance by 1.4% to a range of $7.15 to $7.35 per diluted share. The $0.10 increase in projected 2009 EPS reflects Lockheed's ongoing earnings accretive share repurchasing program. The average Street estimate is $7.40 per share.

Operating case flow guidance by 2.5% to at least $4.1 billion.

2009 revenue guidance remains within a range of $44.7 billion to $45.7 billion.

Email

Print

Share

RSS

Rate Pos

Rate Neg

Comment
Read/Post Comments (0) | Recommended this article (1)
 Posting Comment...
There was a problem posting this this comment. Please try back later.
[CLICK TO CLOSE X]
Comments (Limit 1000 Characters - Used: 0)
Display Name: Email Address:  
 Loading Comments...
Be the first to comment on this article!

More Zacks Resources

Market Summary Nov 08, 2009 05:43 am ET
DJIA 10023.42  17.46 0.17%
NASD 2112.44  7.12 0.34%
S&P 500 1069.3  2.67 0.25%
Sponsored Links