Lockheed Martin Corporation (NYSE:LMT) beat out earnings estimates for the second quarter of 2017.
Earnings per share reported by Lockheed Martin Corporation in the second quarter of 2017 was $3.23. This is a decrease from its earnings per share of $3.32 that was reported during the same time last year. However, it did come in above Wall Street’s earnings per share estimate of $3.11 for the quarter.
Lockheed Martin Corporation reported revenue of $12.69 billion for the second quarter of the year. This is an increase over its revenue of $11.58 billion from the second quarter of 2017. It also came in above analysts’ revenue estimate of $12.42 billion for the second quarter of the year.
Net earnings report by Lockheed Martin Corporation for the second quarter of 2017 was $942 million. The security and aerospace company reported net earnings of $1.02 billion during the same quarter of the previous year.
Lockheed Martin Corporation has also increased its outlook for the full year of 2017 in its most recent earnings report. The company is expecting earnings per share for the year to range from $12.30 to $12.60. This is up from its previous estimate of $12.15 to $12.45. Wall Street is expecting LMT to report earnings per share of $12.53 for the year.
Lockheed Martin Corporation also updated its revenue outlook for the year. It now expects revenue for 2017 to come in between $49.80 billion and $51.00 billion. The old estimate had revenue ranging from $49.50 billion to $50.70 billion. Analysts are expecting LMT to report revenue of $50.25 billion for 2017.
LMT stock was up 1% as of Tuesday morning and is up 16% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
