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Dec 31, 2023
Lockheed Martin Q4 2023 Earnings Report
Lockheed Martin's Q4 2023 financial results were reported, showing a slight decrease in net sales compared to the same period last year, but solid free cash flow generation.
Key Takeaways
Lockheed Martin reported Q4 2023 net sales of $18.9 billion, a slight decrease from $19.0 billion in Q4 2022. Net earnings were $1.9 billion, or $7.58 per share, compared to $1.9 billion, or $7.40 per share, in the prior year. Free cash flow increased to $1.7 billion from $1.2 billion. The company's backlog reached a record $160.6 billion.
Net sales reached $18.9 billion.
Net earnings were $1.9 billion, or $7.58 per share.
Free cash flow was $1.7 billion.
Backlog reached a record $160.6 billion.
Revenue by Segment
Forward Guidance
Lockheed Martin provided its 2024 financial outlook, which includes net sales between $68.5 billion and $70.0 billion and diluted earnings per share between $25.65 and $26.35.
Positive Outlook
- Net sales between $68.5 billion and $70.0 billion
- Business segment operating profit between $7,175 million and $7,375 million
- Total FAS/CAS pension adjustment of ~$1,685 million
- Diluted earnings per share between $25.65 and $26.35
- Free cash flow between $6,000 million and $6,300 million
Challenges Ahead
- The company’s current 2024 financial outlook does not include any future gains or losses related to changes in valuations of the company's net assets and liabilities for deferred compensation plans or early-stage company investments.
- The company’s financial outlook for 2024 assumes that fiscal year 2024 appropriations bills are adopted in a timely manner, the company’s programs remain funded and that the U.S. Government does not shutdown or continue to operate under a continuing resolution for the remainder of 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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