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Jun 25, 2023
Lockheed Martin Q2 2023 Earnings Report
Lockheed Martin's financial performance was strong, marked by increased sales, earnings, and a record backlog.
Key Takeaways
Lockheed Martin reported strong second quarter results with an 8% increase in net sales to $16.7 billion and net earnings of $1.7 billion, or $6.63 per share. The company's backlog reached a record $158.0 billion, and it increased its full-year outlook for sales and earnings per share.
Net sales increased by 8% year-over-year, reaching $16.7 billion.
Net earnings totaled $1.7 billion, or $6.63 per share.
Free cash flow was reported at $0.8 billion.
Record backlog of $158.0 billion was achieved.
Lockheed Martin
Lockheed Martin
Lockheed Martin Revenue by Segment
Forward Guidance
Lockheed Martin increased its full year sales and earnings per share outlooks for 2023.
Positive Outlook
- Sales outlook increased to ~$66,250 - $66,750 million.
- Business segment operating profit outlook increased to ~$7,325 - $7,375 million.
- Diluted earnings per share outlook increased to ~$27.00 - $27.20.
- Cash from operations outlook remains at ≥$8,150 million.
- Free cash flow outlook remains at ≥$6,200 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income