Lockheed Martin shares fell 3.5% in pre-conference trading, as the aerospace and defense company reported second-quarter results that fell short of analysts’ estimates.
Net income was $309 million, or $1.16 per share, including non-operating charges of $1.7 billion.
The company’s net income was $1.81 billion, or $6.52 per share, a quarter ago.
The consensus estimate for earnings per share was $1.88.
Sales fell to $15.44 billion, down from $17.02 billion a year ago, versus estimates of $15.98 billion.
Lockheed Martin also cut revenue estimates for the year to $65.25 billion from a previous estimate of $66 billion, while earnings estimates fell to $21.55 from a previous estimate of $26.70 per share.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
