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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.
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 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.
- The company's reliance on contracts with the U.S. Government, which are dependent on U.S. Government funding and can be terminated for convenience, and the company's ability to negotiate favorable contract terms
- Risks related to the development, production, sustainment, performance, schedule, cost and requirements of complex and technologically advanced programs, including the F-35 program
Revenue & Expenses
Visualization of income flow from segment revenue to net income