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Jun 28, 2020
Lockheed Martin Q2 2020 Earnings Report
Lockheed Martin's Q2 2020 results were reported, showing increased net sales and earnings compared to the previous year, along with an increased 2020 outlook.
Key Takeaways
Lockheed Martin reported Q2 2020 net sales of $16.2 billion, up from $14.4 billion in Q2 2019. Net earnings were $1.6 billion, or $5.79 per share, compared to $1.4 billion, or $5.00 per share in the prior year. The company's cash from operations increased to $2.2 billion, and they achieved a record backlog of $150.3 billion. The company also increased its 2020 outlook for all financial metrics.
Net sales reached $16.2 billion.
Net earnings were $1.6 billion, or $5.79 per share.
Cash from operations totaled $2.2 billion.
Record backlog of $150.3 billion was achieved.
Lockheed Martin
Lockheed Martin
Lockheed Martin Revenue by Segment
Revenue by Segment
Aeronautics Revenue
CapyFin.comMissiles & Fire Control Revenue
CapyFin.comRotary & Mission Systems Revenue
CapyFin.comSpace Revenue
CapyFin.com Forward Guidance
Lockheed Martin updated its 2020 guidance for net sales, segment operating profit, earnings per share and cash from operations to reflect the recent performance across all four business areas. However, the ultimate impact of COVID-19 on the corporation’s financial outlook in 2020 and future periods remains uncertain.
Positive Outlook
- Net sales between $63,500 million and $65,000 million.
- Business segment operating profit between $6,900 million and $7,050 million.
- Net FAS/CAS pension adjustment of approximately $2,090 million.
- Diluted earnings per share between $23.75 and $24.05.
- Cash from operations greater or equal to $8,000 million.
Challenges Ahead
- The ultimate impacts of COVID-19 on the corporation’s financial outlook for 2020 and beyond remains uncertain.
- Production facilities continue to operate, and it does not experience significant work stoppages or closures.
- The company is able to mitigate any supply chain disruptions and these do not worsen.
- The company is able to recover its costs under U.S. Government contracts.
- Government funding priorities do not change.
Revenue & Expenses
Visualization of income flow from segment revenue to net income