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Lockheed Martin (LMT) Tops Q2 Earnings and Revenues
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Lockheed Martin Corporation (LMT - Free Report) 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.
However, a large percentage of Lockheed Martin’s business comes from the U.S. government. Hence, any cutback in the domestic defense budget is a potential risk for its future performance.
Estimate Trend & Surprise History
Investors should note that the second quarter Zacks Consensus Estimate for earnings of $2.92 per share has increased by 3 cents over the last 30 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 4.56%.
Zacks Rank: Currently, Lockheed Martin has a Zacks Rank #2 (Buy) but that could change following its second quarter 2016 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. Earnings per share came in at $3.32, beating the Zacks Consensus Estimate of $2.92 by 13.7%.
Revenue: Revenues of $12.9 billion surpassed the Zacks Consensus Estimate of $12.5 billion by 3.2%.
Key Stats to Note: At the end of the second quarter, Lockheed Martin achieved a backlog of $96.4 billion, down from $99.6 billion at end 2015.
Lockheed Martin has raised its revenue guidance for the year to the $50−$51.5 billion band from the prior projection of $49.6−$51.1 billion. The company also increased its earnings guidance to the range of $12.15–$12.45 from $11.50 – $11.80 expected earlier.
Stock Price: The company’s stock price gained 1.8% during the pre-market trading session at the time of the write-up.
Check back later for our full write up on this LMT earnings report later!
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Lockheed Martin (LMT) Tops Q2 Earnings and Revenues
Lockheed Martin Corporation (LMT - Free Report) 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.
However, a large percentage of Lockheed Martin’s business comes from the U.S. government. Hence, any cutback in the domestic defense budget is a potential risk for its future performance.
Estimate Trend & Surprise History
Investors should note that the second quarter Zacks Consensus Estimate for earnings of $2.92 per share has increased by 3 cents over the last 30 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 4.56%.
Zacks Rank: Currently, Lockheed Martin has a Zacks Rank #2 (Buy) but that could change following its second quarter 2016 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. Earnings per share came in at $3.32, beating the Zacks Consensus Estimate of $2.92 by 13.7%.
Revenue: Revenues of $12.9 billion surpassed the Zacks Consensus Estimate of $12.5 billion by 3.2%.
Key Stats to Note: At the end of the second quarter, Lockheed Martin achieved a backlog of $96.4 billion, down from $99.6 billion at end 2015.
Lockheed Martin has raised its revenue guidance for the year to the $50−$51.5 billion band from the prior projection of $49.6−$51.1 billion. The company also increased its earnings guidance to the range of $12.15–$12.45 from $11.50 – $11.80 expected earlier.
Stock Price: The company’s stock price gained 1.8% during the pre-market trading session at the time of the write-up.
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 >>