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Mar 31, 2024
Lockheed Martin Q1 2024 Earnings Report
Lockheed Martin's Q1 2024 financial performance was reported, showing increased net sales and earnings per share.
Key Takeaways
Lockheed Martin reported a strong start to 2024 with net sales of $17.2 billion, a significant increase from the previous year. The company generated $1.3 billion in free cash flow and reaffirmed its 2024 financial outlook. The backlog reached $159 billion, including several large National Security Space awards.
Net sales reached $17.2 billion, compared to $15.1 billion in the first quarter of 2023.
Net earnings were $1.5 billion, or $6.39 per share.
Cash from operations was $1.6 billion, and free cash flow was $1.3 billion.
The company reaffirmed its 2024 financial outlook.
Revenue by Segment
Forward Guidance
Lockheed Martin reaffirms its 2024 financial outlook, expecting net sales between $68.5 billion and $70.0 billion and free cash flow between $6.0 billion and $6.3 billion.
Positive Outlook
- Net sales are expected to be between $68.5 billion and $70.0 billion.
- Business segment operating profit is projected to be between $7.175 billion and $7.375 billion.
- Diluted earnings per share are expected to be between $25.65 and $26.35.
- Cash from operations is anticipated to be between $7.75 billion and $8.05 billion.
- Free cash flow is projected to be between $6.0 billion and $6.3 billion.
Challenges Ahead
- The outlook includes known impacts from inflationary pressures.
- The outlook includes labor and supply chain challenges.
- The company's financial outlook reflects no significant reduction in customer budgets or changes in priorities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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