Lockheed Martin Earnings Cheat Sheet: Beats the Street on Profit Rise

S&P 500 (NYSE:SPY) component Lockheed Martin (NYSE:LMT) reported net income above Wall Street’s expectations for the third quarter. Lockheed Martin is a global security company that develops and manufactures advanced technology systems and products.

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Lockheed Martin Earnings Cheat Sheet for the Third Quarter

Results: Net income for Lockheed Martin rose to $700 million ($2.10 per share) vs. $560 million ($1.54 per share) in the same quarter a year earlier. This marks a rise of 25% from the year earlier quarter.

Revenue: Rose 6.8% to $12.12 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: LMT beat the mean analyst estimate of $1.81 per share. It beat the average revenue estimate of $11.73 billion.

Quoting Management: “Our focus on program execution in support of our customers resulted in a strong third quarter,” said Bob Stevens, chairman and chief executive officer. “We continue to take aggressive actions, including painful workforce reductions, to reduce costs and deliver value to our customers and shareholders in this challenging global security and economic reality that we expect will extend into 2012.”

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 12 cents in the second quarter, by 4 cents in the first quarter, and by 18 cents in the fourth quarter of the last fiscal year.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the fourth quarter has moved down from $2.06 a share to $2.05 over the last sixty days. Over the past three months, the average estimate for the fiscal year has climbed from $7.30 per to share to $7.55.

Competitors to Watch: Astrotech Corp. (NASDAQ:ASTC), The Boeing Company (NYSE:BA), Northrop Grumman Corp. (NYSE:NOC), General Dynamics Corp. (NYSE:GD), OHB Technology AG (OHB), Alliant Techsystems Inc. (NYSE:ATK), Raytheon Company (NYSE:RTN), RKK Energiya im. S.P.Koroleva OAO (RKKE), Duks OAO (DUKS), and Kirovskiy zavod Mayak OAO (KZMK).

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Source: Xignite Financials)