Lockheed Martin's Q1 Revenue Climbs Amid Fluctuating Profit Margins, 2024 Outlook Reaffirmed
Portfolio Pulse from Akanksha Bakshi
Lockheed Martin Corp (NYSE:LMT) reported a 13.7% increase in Q1 2024 net sales to $17.195 billion, surpassing expectations. Adjusted EPS decreased slightly to $6.33 from $6.43 YoY but exceeded forecasts. Gross and operating margins contracted, while cash from operations and total backlog showed mixed results. The company reaffirmed its FY24 outlook, expecting net sales between $68.5 billion and $70 billion, and EPS of $25.65 to $26.35. LMT shares rose 0.52% to $463.73.
April 23, 2024 | 3:48 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Lockheed Martin's Q1 2024 performance exceeded expectations with significant sales growth and a strong reaffirmed FY24 outlook, despite a slight EPS decrease and margin contractions.
The positive earnings report and the reaffirmation of a strong FY24 outlook are likely to instill confidence in investors, potentially leading to a short-term positive impact on LMT's stock price. The slight decrease in EPS and margin contractions are overshadowed by the overall positive financial health and growth prospects of the company.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100