LMT: Lockheed Martin Beats Street, Boosts Outlook

Lockheed Martin raises expectations for 2014

   

LMT: Lockheed Martin Beats Street, Boosts Outlook

Lockheed Martin (LMT) has reported strong earnings during the first quarter of 2014.

LockheedMartinLogo e1305045062401 LMT: Lockheed Martin Beats Street, Boosts OutlookLockheed 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.

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