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Lockheed Martin
🇺🇸 NYSE:LMT
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Sep 27, 2020

Lockheed Martin Q3 2020 Earnings Report

Reported strong results across key financial metrics, driven by dedicated workforce and resilient supply chain.

Key Takeaways

Lockheed Martin reported Q3 2020 net sales of $16.5 billion, compared to $15.2 billion in Q3 2019. Net earnings from continuing operations were $1.8 billion, or $6.25 per share, compared to $1.6 billion, or $5.66 per share, in Q3 2019. Cash from operations was $1.9 billion, compared to $2.5 billion in Q3 2019. The company achieved a record backlog of $150.4 billion.

Net sales reached $16.5 billion.

Net earnings from continuing operations were $1.8 billion, or $6.25 per share.

Cash from operations generated $1.9 billion.

Record backlog achieved at $150.4 billion.

Total Revenue
$16.5B
Previous year: $15.2B
+8.7%
EPS
$6.25
Previous year: $5.66
+10.4%
Backlog
$150B
Gross Profit
$2.14B
Previous year: $2.06B
+3.5%
Cash and Equivalents
$3.59B
Previous year: $2.54B
+41.2%
Total Assets
$50.8B
Previous year: $49.3B
+3.0%

Lockheed Martin

Lockheed Martin

Lockheed Martin Revenue by Segment

Forward Guidance

The corporation expects its 2021 net sales to increase to greater than or equal to $67 billion. Total business segment operating margin in 2021 is expected to be in the 10.9 percent to 11.1 percent range and cash from operations is expected to be greater than or equal to $8.1 billion, net of $1.0 billion of planned pension contributions.

Positive Outlook

  • 2021 net sales are expected to increase to greater than or equal to $67 billion.
  • Total business segment operating margin in 2021 is expected to be in the 10.9 percent to 11.1 percent range.
  • Cash from operations is expected to be greater than or equal to $8.1 billion, net of $1.0 billion of planned pension contributions.
  • Preliminary outlook for 2021 assumes continued support and funding of programs.
  • Preliminary outlook assumes a statutory tax rate of 21%.

Challenges Ahead

  • The preliminary outlook for 2021 assumes that there will not be significant reductions in customer budgets.
  • The preliminary outlook for 2021 assumes that there will not be changes in funding priorities.
  • The preliminary outlook for 2021 assumes that the U.S. Government will not continue to operate under a continuing resolution for an extended period in which new contract and program starts are restricted.
  • Changes in circumstances may require the corporation to revise its assumptions.
  • The final assumptions and actual investment return for 2020 may differ materially from those discussed above.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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