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- Full-Year Forecast Updated
- Net sales forecast raised to $70.50 billion – $71.50 billion (previously $68.50 billion – $70.00 billion)
- EPS forecast increased to $26.10 – $26.60 (previously $25.65 – $26.35)
- Cash flow from operations remains $7.75 billion – $8.05 billion
- Free cash flow remains $6.00 billion – $6.30 billion
- Capital expenditure remains about $1.75 billion
- Second Quarter Results
- EPS: $6.85 (up from $6.63 y/y)
- Net sales: $18.12 billion (+8.6% y/y, estimate $17.06 billion)
- Missiles and Fire Control net sales: $3.10 billion (+13% y/y, estimate $2.96 billion)
- Aeronautics net sales: $7.28 billion (+5.8% y/y, estimate $6.92 billion)
- Rotary and Mission Systems net sales: $4.55 billion (+17% y/y, estimate $4.03 billion)
- Space net sales: $3.20 billion (+0.9% y/y, estimate $3.19 billion)
- Financial Performance Metrics
- Backlog: $158.34 billion (+0.2% y/y)
- Cash flow from operations: $1.88 billion (+71% y/y, estimate $1.51 billion)
- Operating profit: $2.15 billion (+0.6% y/y, estimate $2.07 billion)
- Aeronautics operating profit: $751 million (+4.6% y/y, estimate $685.7 million)
- Missiles and Fire Control operating profit: $450 million (+21% y/y, estimate $382.6 million)
- Rotary and Mission Systems operating profit: $495 million (+9% y/y, estimate $456.6 million)
- Space operating profit: $346 million (+11% y/y, estimate $303.4 million)
- Free cash flow: $1.51 billion (+95% y/y, estimate $1.12 billion)
- Key Comments
- “We delivered strong second quarter financial results, with year-over-year growth of 9% in sales and 10% in segment operating profit, and free cash flow generation in excess of $1.5 billion.”
- “The year-to-date performance gives us confidence to raise our 2024 full-year outlook for sales, segment operating profit, and earnings per share.”
- “Operationally, the F-35 remains a top priority, and we recently delivered the first Technology Refresh 3-configured aircraft to the customer and anticipate deliveries for 2024 to meet our expected range of 75-110 F-35s.”
“`
Lockheed Martin on Smartkarma
On Smartkarma, analysts from Baptista Research have been closely monitoring Lockheed Martin Corporation, offering valuable insights into the company’s recent performance. In a report titled “Lockheed Martin Corporation: Will Its Recent Acquisition & Its Investments in Next-gen Interceptor Bear Fruit? – Major Drivers,” the analysts highlighted the firm’s robust financial performance in the First Quarter of 2024. Lockheed Martin showcased strong revenue growth and maintained a stable backlog amounting to $159 billion, indicating the successful alignment of their advanced technology solutions with the priorities of their customers. The report also noted the positive impact of the FY ’24 defense budget on Lockheed Martin, with substantial funding allocated for key projects such as munitions procurement, hypersonics, and long-term initiatives like the F-35 aircraft.
In another insightful report by Baptista Research titled “Lockheed Martin: How Bad Is The Impact of Delays in Government Budget? – Major Drivers,” the analysts discussed the company’s performance during the fourth quarter and year-end earnings conference call for 2023. Lockheed Martin reported strong results in 2023, driven by high demand for its diverse range of products including aircraft, satellites, and radar systems. The company achieved a record backlog of $161 billion, with total sales amounting to $67.6 billion for the year, marking a 2% year-on-year growth. Despite potential challenges posed by delays in government budget allocations, the analysts’ overall sentiment remains optimistic regarding Lockheed Martin‘s resilience and growth trajectory.
A look at Lockheed Martin Smart Scores
Factor | Score | Magnitude |
---|---|---|
Value | 2 | |
Dividend | 3 | |
Growth | 3 | |
Resilience | 2 | |
Momentum | 4 | |
OVERALL SMART SCORE | 2.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysing Lockheed Martin‘s long-term outlook through the Smartkarma Smart Scores reveals a company positioned for sustained growth. With solid scores in Dividend and Growth at 3, Lockheed Martin demonstrates a commitment to rewarding investors while maintaining stable business expansion. Additionally, a Momentum score of 4 suggests strong ongoing market performance, indicating potential for continued upward trends in the company’s value.
While Value and Resilience scores sit at 2, indicating some room for improvement, Lockheed Martin‘s diverse business portfolio and global presence make it a resilient player in the security industry. Overall, the company’s consistent performance across key factors paints a positive picture for its future prospects, aligning well with its reputation as a leading provider of advanced technology solutions across various sectors.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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