Lockheed Martin Corporation (NYSE:LMT) stock took a hit today with the release of its earnings report for the third quarter of 2017.

Lockheed Martin Corporation’s earnings report for the third quarter of year started off bad with earnings per share of $3.24. This is down from its earnings per share of $7.93 from the same time last year. It also wasn’t able to reach Wall Street’s earnings per share estimate of $3.26, which isn’t good news for LMT stock.

Revenue of $12.17 billion for the third quarter of 2017 also didn’t do LMT stock any favors. Analysts were looking for Lockheed Martin Corporation to report revenue of $12.81 billion during the quarter. Still, it was an increase over its revenue of $11.55 billion from the third quarter of 2016.

Lockheed Martin Corporation reported net earnings of $939 million in the third quarter of 2017. This is a large drop from its net earnings of $2.40 billion reported in the same period of the year prior.

While the current earnings report hasn’t been the best for LMT stock, it may still have hope for 2017. Lockheed Martin Corporation has increased its outlook for the full year to include earnings per share ranging from $12.85 to $13.15. It was previously expecting earnings per share to come between $12.30 and $12.60. Wall Street is looking for 2017 earnings per share of $12.64.

Lockheed Martin Corporation’s guidance increase also extends to its revenue for 2017. The security and aerospace company is expecting revenue to range from $50.00 billion to $51.20 billion. It’s previous guidance had revenue coming between $49.80 billion and $50.00 billion. Analysts are estimating revenue of $50.59 billion for the year.

LMT stock was down 2% as of noon Tuesday, but is up 24% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.