(Boursier.com) — Lockheed Martin, the US aerospace and defense systems designer, reported better-than-expected fourth-quarter earnings and sales, citing a stronger-than-expected year-end. Net income fell to $1.91 billion, or $7.40 per share, from $2.05 billion, or $7.47 per share, a year ago. Excluding one-time items, such as severance and investment losses, adjusted earnings per share rose from $7.22 to $7.79, beating the FactSet consensus ($7.41). Sales rose 7.1% to $18.99 billion, above the FactSet consensus ($18.28 billion). All business segments – aerospace, missiles and fire control, rotary and mission systems and space – saw revenues exceed expectations. Free cash flow of $1.2 billion is in line with expectations.
For 2023, Lockheed forecasts EPS of $26.6-26.9, against consensus of $27.14, and sales of $65 billion to $66 billion surrounding the consensus.
©2023 Boursier.com