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Jun 27, 2021
Lockheed Martin Q2 2021 Earnings Report
Lockheed Martin's Q2 2021 financial performance was reported, showing increased net sales and earnings per share compared to the same period last year, but also included a loss related to performance issues on a classified program within the Aeronautics segment.
Key Takeaways
Lockheed Martin reported Q2 2021 net sales of $17.0 billion, up from $16.2 billion in Q2 2020. Net earnings were $1.8 billion, or $6.52 per share, compared to $1.6 billion, or $5.79 per share, in the prior year. The results include a $225 million loss related to a classified program in Aeronautics. The company increased its 2021 financial outlook for earnings per share.
Net sales reached $17.0 billion, an increase from $16.2 billion in the second quarter of 2020.
Net earnings were $1.8 billion, or $6.52 per share, compared to $1.6 billion, or $5.79 per share, in the second quarter of 2020.
Cash from operations totaled $1.3 billion, a decrease from $2.2 billion in the second quarter of 2020.
The company increased its 2021 financial outlook for earnings per share.
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 provided its current financial outlook for 2021, reflecting anticipated impacts from the COVID-19 pandemic and the UK Ministry of Defence’s renationalization of the Atomic Weapons Establishment program. The outlook does not incorporate the pending acquisition of Aerojet Rocketdyne Holdings, Inc.
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.
- The net FAS/CAS pension adjustment is estimated to be approximately $2.33 billion.
- Diluted earnings per share are projected to be between $26.70 and $27.00.
- Cash from operations is expected to be at least $8.9 billion.
Challenges Ahead
- The ultimate impacts of COVID-19 on the company’s financial outlook for 2021 and beyond remains uncertain.
- The 2021 financial outlook reflects the UK Ministry of Defence’s renationalization of the Atomic Weapons Establishment program on June 30, 2021.
- The 2021 financial outlook reflects the impact of the unrealized and realized gains from investments held by the Lockheed Martin Ventures Fund year to date, but does not include any future gains or losses related to market volatility and changes in valuations of the company's investment holdings.
- The 2021 financial outlook does not incorporate the pending acquisition of Aerojet Rocketdyne Holdings, Inc. previously announced on Dec. 20, 2020.
- Actual results may differ materially from those projected due to various factors.
Revenue & Expenses
Visualization of income flow from segment revenue to net income