Lockheed Martin Earnings: Here’s Why Shares are Up Now

Lockheed Martin Corporation (NYSE:LMT) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.72%.

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Lockheed Martin Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 15.35% to $2.33 in the quarter versus EPS of $2.02 in the year-earlier quarter.

Revenue: Decreased 1.97% to $11.07 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Lockheed Martin Corporation reported adjusted EPS income of $2.33 per share. By that measure, the company beat the mean analyst estimate of $2.04. It beat the average revenue estimate of $10.31 billion.

Quoting Management: “Our team delivered strong results this quarter by focusing on program execution and delivering on our commitments to customers,” said Lockheed Martin Chief Executive Officer and President Marillyn Hewson. “While the impact of sequestration on our business has been limited to date, we continue to work closely with our customers to better understand the future impact sequestration may have on our programs. Despite the challenging budget environment, we will continue to innovate and deliver value to our customers and shareholders.”

Key Stats (on next page)…

Revenue decreased 8.5% from $12.1 billion in the previous quarter. EPS increased 21.99% from $1.91 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $2.1 to a profit $2.21. For the current year, the average estimate has moved up from a profit of $8.27 to a profit of $8.92 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)