Lockheed Martin (LMT) Tops Q2 EPS by 27c; Bumps FY15 EPS Outlook Higher

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Go back to Lockheed Martin (LMT) Tops Q2 EPS by 27c; Bumps FY15 EPS Outlook Higher

United Technologies Announces Agreement To Sell Sikorsky Aircraft

July 20, 2015 7:32 AM EDT

HARTFORD, Conn., July 20, 2015 /PRNewswire/ -- United Technologies Corp. (NYSE: UTX) today announced that it has reached an agreement to sell its Sikorsky Aircraft business to Lockheed Martin Corp. (NYSE: LMT) for $9 billion in cash. The transaction, which is subject to regulatory approvals and customary closing conditions and adjustments, is projected to close by year-end or in the first quarter of 2016. Proceeds from the sale are expected to be used to fund additional share repurchase to offset the earnings impact related to the sale.

"We... More

Lockheed Martin Reports Second Quarter 2015 Results

July 20, 2015 7:32 AM EDT

BETHESDA, Md., July 20, 2015 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) today reported second quarter 2015 net sales of $11.6 billion, compared to $11.3 billion in the second quarter of 2014. Net earnings in the second quarter of 2015 were $929 million, or $2.94 per share, compared to $889 million, or $2.76 per share, in the second quarter of 2014. Cash from operations in the second quarter of 2015 was $1.3 billion, compared to $977 million in the second quarter of 2014.

"Solid operational and program execution in the second quarter allowed us to increase our... More