Lockheed Martin (LMT) tops consensus earnings, revenue expectations
Lockheed Martin (NYSE: LMT) shares edged slightly lower premarket Tuesday after the company released its latest quarterly earnings report, topping consensus earnings and revenue expectations.
The company reported adjusted Q4 earnings of $7.90 per share, $0.62 better than the analyst estimate of $7.28 per share. Revenue for the quarter came in at $18.87 billion versus the consensus estimate of $17.95 billion. Net sales came in at $67.6 billion in 2023.
The company also reported a "record backlog of $160.6 billion."
"Our solid finish to 2023 and full-year results reflect continued strong demand for our all-domain portfolio of advanced defense tech solutions," said Lockheed Martin chairman, president and CEO Jim Taiclet.
The company sees FY2024 adjusted EPS between $25.65 and $26.35, versus the consensus of $26.62, while FY2024 revenue is seen from $68.5 billion to $70 billion, which is above the consensus of $68.65 billion.
By Sam Boughedda