Lockheed Martin - News
Ticker Symbol: LMT
Lockheed Martin News - Past
On January 27, Lockheed topped expectations in reporting a 3% increase in Q4 net income to $823 million, or $2.05/share, up from $799 million, or $1.89/share. Consensus estimates called for earnings of $1.91/share. Backlog orders grew 5.5% year-over-year to $80.9 billion.
On April 6th, Gates announced the Pentagon will end its F-22 fighter jet program and will discontinue requests for White House helicopters. Instead, the Pentagon will move forward with increased orders for Lockheed's Joint Strike Fighter.
Lockheed Martin News - Upcoming
The Lockheed shareholder meeting is scheduled for April 23rd. At the end of January, Lockheed had forecasted full-year earnings of $7.05 to $7.25/share on sales of $44.7 billion to $45.7 billion. It remains to be seen if Lockheed will adjust its forecast in light of Defense Secretary Gates' recent announcement that the Pentagon is looking to reroute its weapons appropriation budget and direction.
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