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Sep 29, 2024
Lockheed Martin Q3 2024 Earnings Report
Lockheed Martin's Q3 2024 financial performance reflected a slight revenue increase and strong free cash flow generation.
Key Takeaways
Lockheed Martin reported Q3 2024 net sales of $17.1 billion, a 1% increase year-over-year, and net earnings of $1.6 billion, or $6.80 per share. The company generated $2.1 billion in free cash flow and increased its share repurchase authorization by $3.0 billion.
Net sales reached $17.1 billion, a 1% increase compared to the previous year.
Net earnings totaled $1.6 billion, resulting in $6.80 per share.
Free cash flow amounted to $2.1 billion.
Share repurchase authorization increased by $3.0 billion, reaching a total of $10.3 billion.
Revenue by Segment
Forward Guidance
Lockheed Martin increased its 2024 financial outlook.
Positive Outlook
- Net sales are expected to be approximately $71.25 billion.
- Business segment operating profit is projected to be around $7.475 billion.
- Total FAS/CAS pension adjustment is anticipated to be approximately $1.685 billion.
- Diluted earnings per share are forecasted to be approximately $26.65.
- Free cash flow is estimated to be around $6.2 billion.
Challenges Ahead
- The company's current 2024 financial outlook is premised on receiving contractual authorization and funding on the F-35 Lots 18-19 production contract in the fourth quarter of 2024.
- Capital expenditures are expected to be approximately $1.75 billion.
- Outlook does not incorporate adjustments for potential acquisitions, divestitures, ventures, or financing transactions until consummated.
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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