Lockheed Martin saw net earnings of $933 million, or $2.87 per share, during the first quarter of 2014. In 2013, the company had first-quarter earnings of $761 million, or $2.33 per share. Sales were down to $10.7 billion in the first quarter of 2014 as compared to $11.1 billion in the first quarter of 2013.
Lockheed Martin also boosted its outlook for 2014 following its report of strong profit earnings in the first quarter. It expects earnings per share to be at about $10.50 to $10.80. In January, the company expected earnings per share to be at around $10.25 to $10.55. Forecast for operating profit and operating cash were also increased.
LMT shares were down 1% as of midday Tuesday.