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Dec 31, 2020
Lockheed Martin Q4 2020 Earnings Report
Lockheed Martin reported increased net sales and earnings in Q4 2020, driven by strong performance across all business segments and strategic actions.
Key Takeaways
Lockheed Martin reported Q4 2020 net sales of $17.0 billion, up from $15.9 billion in Q4 2019, and net earnings from continuing operations of $1.8 billion, or $6.38 per share, compared to $1.5 billion, or $5.29 per share, in Q4 2019. The company also announced an agreement to acquire Aerojet Rocketdyne.
Net sales reached $17.0 billion, compared to $15.9 billion in the same quarter of the previous year.
Net earnings from continuing operations were $1.8 billion, or $6.38 per share, up from $1.5 billion, or $5.29 per share, in the prior year.
Cash from operations amounted to $1.8 billion, compared to $1.5 billion in the fourth quarter of 2019.
An agreement to acquire Aerojet Rocketdyne was announced.
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 2021 financial outlook, which reflects the anticipated impacts from the COVID-19 pandemic and the UK Ministry of Defense’s intent to re-nationalize the Atomic Weapons Establishment program (AWE program) on June 30, 2021. The outlook does not incorporate the pending acquisition of Aerojet Rocketdyne Holdings, Inc.
Positive Outlook
- Net sales are projected to be between $67.1 billion and $68.5 billion.
- Business segment operating profit is expected to range from $7.355 billion to $7.495 billion.
- Diluted earnings per share are forecasted to be between $26.00 and $26.30.
- Cash from operations is anticipated to be at least $8.3 billion.
- The outlook includes a net FAS/CAS pension adjustment of approximately $2.330 billion.
Challenges Ahead
- The 2021 financial outlook reflects the anticipated impacts from the coronavirus disease 2019 (COVID-19) global pandemic based on the corporation’s understanding at the time of this news release.
- The ultimate impacts of COVID-19 on the corporation’s financial outlook for 2021 and beyond remains uncertain and there can be no assurance that the corporation’s underlying assumptions are correct.
- The 2021 financial outlook reflects the UK Ministry of Defense’s intent to re-nationalize the Atomic Weapons Establishment program (AWE program) on June 30, 2021.
- The 2021 financial outlook does not incorporate the pending acquisition of Aerojet Rocketdyne Holdings, Inc. announced on Dec. 20, 2020.
- The corporation’s 2021 financial outlook for cash from operations is net of $1.0 billion in expected discretionary contributions to its qualified defined benefit pension plans.
Revenue & Expenses
Visualization of income flow from segment revenue to net income