Lockheed Martin (LMT) tops earnings, revenue expectations

January 24, 2023 7:54 AM EST

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Lockheed Martin (NYSE: LMT) shares edged slightly lower Tuesday after it reported earnings, topping analyst consensus expectations.

The security and aerospace company posted earnings of $7.79 per share on revenue of $19 billion. Analysts expected earnings to come in $0.38 lower at $7.41 per share on revenue of $18.26 billion.

"Lockheed Martin's stronger than expected finish to the year demonstrated the company's reliability and resiliency to meet commitments in challenging environments, while leading the industry's critical security advancements for our nation and allies," said Chairman, President, and CEO James Taiclet.

Taiclet added that the company's ongoing expansion of capabilities and commercial partnerships are providing "value-enhancing growth opportunities across our businesses."

The company said it remains confident looking ahead.

Lockheed Martin sees FY2023 EPS between $26.60 and $26.90, versus the consensus of $26.93, with revenue for the period between $65 billion and $66 billion, versus the consensus of $65.74 billion.

By Sam Boughedda

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