- Tools for Investors
- Stock News
- Investing Ideas
- Econ & Policy
- Personal Finance
S&P 500 (NYSE:SPY) component Lockheed Martin (NYSE:LMT) reported net income above Wall Street’s expectations for the third quarter. Lockheed Martin is a global security company that develops and manufactures advanced technology systems and products.
Earnings season is back and more important than ever. Get our newest CHEAT SHEET stock picks now
Lockheed Martin Earnings Cheat Sheet
Results: Net income for the aerospace/defense rose to $727 million ($2.21 per share) vs. $700 million ($1.99 per share) in the same quarter a year earlier. This marks a rise of 3.9% from the year-earlier quarter.
Revenue: Fell 2.1% to $11.87 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Lockheed Martin beat the mean analyst estimate of $1.85 per share. It beat the average revenue estimate of $11.29 billion.
Quoting Management: “Our strong operating results this quarter are a reflection of several factors, including our relentless focus on affordability and program execution,” said Bob Stevens, chairman and chief executive officer. “We also have a strategy that is aligned with our customers, a proven portfolio of products and technologies, and a team that is talented and dedicated, even with the uncertainties that lie ahead. We remain focused on meeting our customer commitments and delivering value to our shareholders.”
The company has now seen its net income rise for three quarters in a row. In the second quarter, net income rose 5.3% and in the first quarter, the figure rose 26%.
The company has now surpassed analyst estimates for four quarters in a row. It beat the mark by 46 cents in the second quarter, by 32 cents in the first quarter, and by 59 cents in the fourth quarter of the last fiscal year.
A year-over-year revenue decrease last quarter snaps a streak of two consecutive quarters of revenue increases. Revenue rose 3.2% in the second quarter and 6.2% in the first quarter.
Looking Forward: Over the past ninety days, the average estimate for the fourth quarter has fallen from $1.88 per share to $1.85, indicating that analysts are growing pessisimistic about the company’s performance next quarter. Over the past three months, the average estimate for the fiscal year has climbed from $8.05 per to share to $8.10.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
Don’t Miss These Additional Hot Stories:
Don't miss one of the biggest bull markets in history! Covers Gold, Silver, Gold & Silver stocks, and miners.
There's always a bull market in some sector! Find the best opportunities in commodities.