Lockheed Martin stock rises after profit, revenue rise above expectations
Shares of Lockheed Martin Corp. (LMT) gained 1.0% in premarket trading Tuesday, after the aerospace and defense company reported fourth-quarter profit and sales that rose above expectations, as growth in aeronautics, missiles and fire control and rotary and mission systems sales offset a decline in space sales. Net income rose to $2.05 billion, or $7.47 a share, from $1.79 billion, or $6.38 a share, in the year-ago period. The FactSet consensus for earnings per share was $7.16. Sales grew 4.1% to $17.73 billion, above the FactSet consensus of $17.66 billion, to outpace cost of sales growth of 3.3% to $15.31 billion. For 2022, the company expects EPS of $26.70 and sales of $66,000, compared with the FactSet consensus for EPS of $26.56 and sales of $66.53 billion. The stock has slipped 0.8% over the past three months through Monday, while the S&P 500 has lost 3.4%.
-Tomi Kilgore
(END) Dow Jones Newswires
January 25, 2022 07:41 ET (12:41 GMT)
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