Lockheed Martin (LMT) Misses Q1 EPS by 18c, Trims FY Outlook

Lockheed Martin (NYSE: LMT) reported Q1 EPS of $2.61, $0.18 worse than the analyst estimate of $2.79. Revenue for the quarter came in at $11.1 billion versus the consensus estimate of $11.24 billion.

"Our team delivered strong performance for our customers in the first quarter that resulted in sales growth in every business segment," said Chairman, President, and CEO Marillyn Hewson. "While our net earnings were impacted by certain adjustments, we increased our outlook for full year cash from operations by $300 million to at least $6.0 billion and we continue to position the company to deliver outstanding value to customers and shareholders."

GUIDANCE:

Lockheed Martin sees FY2017 EPS of $12.15-$12.45, versus prior of $12.25-$12.55 and consensus of $12.64. Lockheed Martin sees FY2017 revenue of $49.5-50.7 billion, versus prior of $49.4-$50.6 billion and the consensus of $50.18 billion.

For earnings history and earnings-related data on Lockheed Martin (LMT) click here.

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