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Lockheed Martin
🇺🇸 NYSE:LMT
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Mar 28, 2021

Lockheed Martin Q1 2021 Earnings Report

Reported an increase in net sales and earnings compared to the same quarter last year, with a maintained backlog and increased financial outlook for 2021.

Key Takeaways

Lockheed Martin reported Q1 2021 net sales of $16.3 billion, up from $15.7 billion in Q1 2020. Net earnings were $1.8 billion, or $6.56 per share, compared to $1.7 billion, or $6.08 per share, in the same period last year. The company's backlog remained strong at approximately $147 billion and the financial outlook for 2021 has been increased.

Net sales reached $16.3 billion.

Net earnings were $1.8 billion, or $6.56 per share.

Cash from operations totaled $1.7 billion.

Maintained a backlog of approximately $147 billion.

Total Revenue
$16.3B
Previous year: $15.7B
+3.9%
EPS
$6.56
Previous year: $6.08
+7.9%
Gross Profit
$2.19B
Previous year: $2.09B
+4.5%
Cash and Equivalents
$2.93B
Previous year: $1.99B
+47.5%
Free Cash Flow
$1.75B
Previous year: $2.31B
-24.5%
Total Assets
$51.4B
Previous year: $49.2B
+4.4%

Lockheed Martin

Lockheed Martin

Lockheed Martin Revenue by Segment

Forward Guidance

Lockheed Martin increased its 2021 financial outlook.

Positive Outlook

  • Net sales are projected to be between $67.3 billion and $68.7 billion.
  • Business segment operating profit is expected to be between $7.38 billion and $7.52 billion.
  • Net FAS/CAS pension adjustment is anticipated to be approximately $2.33 billion.
  • Diluted earnings per share are forecasted to be between $26.40 and $26.70.
  • Cash from operations is expected to be at least $8.9 billion.

Challenges Ahead

  • The ultimate impacts of COVID-19 on the corporation’s financial outlook for 2021 and beyond remains uncertain.
  • The 2021 financial outlook reflects the UK Ministry of Defense’s intent to re-nationalize the Atomic Weapons Establishment program on June 30, 2021.
  • The 2021 financial outlook reflects the impact of the first quarter 2021 unrealized gains from investments held by the Lockheed Martin Ventures Fund, but does not include any future gains or losses related to market volatility.
  • The 2021 financial outlook does not incorporate the pending acquisition of Aerojet Rocketdyne Holdings, Inc.
  • There can be no assurance that the corporation’s underlying assumptions are correct.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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