Core Insights - Lockheed Martin reported mixed Q4 2024 earnings, with earnings per share (EPS) of $2.22, significantly below the estimated $6.62, primarily due to losses in classified programs [2][7] - Total revenue for the quarter was $18.6 billion, slightly missing analysts' expectations of $18.87 billion [2][4] - The company achieved a record backlog of $176 billion, indicating strong future demand [3][10] Financial Performance - EPS decreased by 70.7% year-over-year from $7.58 in Q4 2023 to $2.22 in Q4 2024 [4] - Revenue fell by 1.3% year-over-year from $18.9 billion in Q4 2023 to $18.6 billion in Q4 2024 [4] - Free cash flow dropped to $441 million from nearly $1.7 billion a year earlier, a decline of 73.5% [4][9] - Net earnings decreased by 71.8% year-over-year, from $1.866 billion in Q4 2023 to $527 million in Q4 2024 [4] Business Segments - The Aeronautics segment saw a 5% increase in sales, but operating profits fell by 43% due to challenges in classified programs [8] - The Missiles and Fire Control segment experienced an 8% rise in net sales, yet operating profits turned into a loss of $804 million from a previous profit of $395 million [8] Strategic Focus - Lockheed Martin is concentrating on classified programs and advancements in hypersonics technology, aiming to transition these projects into production phases for long-term growth [6][11] - The company is projecting net sales between $73.75 billion and $74.75 billion for 2025, with expectations of improved operating profit across business segments [11]

January 28, 2025 at: www.lockheedmartin.com/investor January 28, 2025 through midnight January 29, 2025 4 th Quarter 2024 Conference Call January 28, 2025 Webcast login at: James D. Taiclet Chairman, President and CEO Chief Financial Officer Jay Malave Maria Ricciardone Vice President, Treasurer & Investor Relations www.lockheedmartin.com/investor Webcast replay & podcast available by 2:00 p.m. ET Audio replay available from 2:00 p.m. ET 1 Forward-Looking Statements This presentation contains statements tha ...

Company Performance - Lockheed Martin reported quarterly earnings of $7.67 per share, exceeding the Zacks Consensus Estimate of $6.60 per share, but down from $7.90 per share a year ago, representing an earnings surprise of 16.21% [1] - The company posted revenues of $18.62 billion for the quarter ended December 2024, missing the Zacks Consensus Estimate by 1.24% and down from $18.87 billion year-over-year [2] - Over the last four quarters, Lockheed has surpassed consensus EPS estimates four times and topped consensus revenue estimates two times [2] Stock Outlook - Lockheed shares have increased approximately 3.7% since the beginning of the year, outperforming the S&P 500's gain of 2.2% [3] - The current consensus EPS estimate for the upcoming quarter is $6.59 on revenues of $17.64 billion, and for the current fiscal year, it is $27.78 on revenues of $73.99 billion [7] - The estimate revisions trend for Lockheed is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Aerospace - Defense industry is currently in the bottom 40% of over 250 Zacks industries, which may impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry outlook can significantly affect stock performance [5][8]

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

Exhibit 99.1 News Release Lockheed Martin Reports Fourth Quarter and Full Year 2024 Financial Results BETHESDA, Md., Jan. 28, 2025 – Lockheed Martin Corporation [NYSE: LMT] today reported fourth quarter 2024 net sales of $18.6 billion, compared to $18.9 billion in the fourth quarter of 2023. Net earnings in the fourth quarter of 2024 were $527 million, or $2.22 per share, including $1.7 billion ($1.3 billion, or $5.45 per share, after-tax) of losses for classified programs, compared to $1.9 billion, or $7.5 ...

2024 net sales increased 5% to $71.0 billion Recorded pre-tax losses of $1.7 billion and $2.0 billion associated with classified programs in the fourth quarter and full year, which impacted earnings per share by $5.45 and $6.16 Earnings per share of $2.22 in the fourth quarter and $22.31 in 2024, including impact of classified programs losses Cash from operations of $7.0 billion and free cash flow of $5.3 billion in 2024 after a pension contribution of $990 million Returned $6.8 billion of cash to sharehol ...

Lockheed Martin Corporation LMT will release its fourth-quarter financial results, before the opening bell, on Tuesday, Jan. 28, 2025.Analysts expect the Bethesda, Maryland-based company to report quarterly earnings at $6.61 per share, down from $7.9 per share in the year-ago period. Lockheed Martin projects quarterly revenue of $18.79 billion, compared to $18.87 billion a year earlier, according to data from Benzinga Pro.On Jan. 22, Lockheed Martin announced a $270 million contract with the U.S. Air Force. ...

Lockheed Martin's Recent Deal - Lockheed Martin secured a $270 million contract from the US Air Force to integrate next-generation infrared defensive sensors on the F-22 Raptor [1] - The new Infrared Defensive System, developed by Lockheed, enhances the F-22's capability and endurance [1] F-22 Raptor Capabilities - The F-22 is one of the most advanced fifth-generation fighter jets, known for its stealth, speed, agility, and situational awareness [2] - It provides unparalleled battlespace awareness by gathering and exchanging tactical information with friendly assets [3] Military Aviation Market Growth - Rising military conflicts and technological advancements are driving increased defense spending on combat-proven jets [4] - The military aviation market is forecasted to grow at a CAGR of 4.7% from 2025 to 2030 [4] Lockheed Martin's Growth Prospects - Lockheed's robust portfolio of combat jets, including the F-35, F-21, F-2, F-16, and F-22, positions it well to benefit from market growth [5] Opportunities for Other Aerospace Defense Companies - Northrop Grumman (NOC) has a long-term earnings growth rate of 19% and is expected to see a 3.6% improvement in 2025 sales [6][7] - Boeing (BA) has a long-term earnings growth rate of 19.3% and is expected to see a 23.5% improvement in 2025 sales [7][8] - Embraer (ERJ) is expected to see a 17.8% growth in 2025 sales and delivered an average earnings surprise of 127.28% in the last four quarters [8][9] Lockheed Martin Stock Performance - Lockheed's shares rose 1.9% in the past month, compared to the industry's growth of 4% [10] - The company currently carries a Zacks Rank 3 (Hold) [11]

Core Viewpoint - Analysts forecast Lockheed Martin (LMT) will report quarterly earnings of $6.60 per share, reflecting a year-over-year decline of 16.5%, with revenues expected to be $18.85 billion, a slight decline of 0.1% compared to the previous year [1]. Earnings Projections - The consensus EPS estimate has been revised downward by 1.1% over the past 30 days, indicating a collective reassessment by analysts [2]. - Revisions to earnings projections are crucial for predicting investor behavior, as empirical studies show a strong correlation between earnings estimate trends and short-term stock performance [3]. Key Metrics Estimates - Analysts project 'Net sales- Aeronautics' to reach $7.88 billion, a year-over-year increase of 3.5% [5]. - 'Net sales- Rotary and Mission Systems' is expected to be $4.41 billion, indicating a decline of 6.4% from the prior year [5]. - 'Net sales- Missiles and Fire Control' is estimated at $3.32 billion, reflecting a year-over-year increase of 4.6% [5]. - 'Net sales- Space' is projected to be $3.24 billion, showing a decline of 4% from the previous year [6]. Operating Profit Estimates - 'Operating Profit- Aeronautics' is expected to be $749.72 million, down from $761 million in the same quarter last year [6]. - 'Operating Profit- Space' is estimated at $293.12 million, compared to $307 million in the prior year [7]. - 'Operating Profit- Rotary and Mission Systems' is projected to reach $510.13 million, down from $579 million in the same quarter last year [7]. - 'Operating Profit- Missiles and Fire Control' stands at an estimated $278.16 million, compared to $395 million a year ago [8]. Stock Performance - Lockheed shares have increased by 2.3% over the past month, while the Zacks S&P 500 composite has risen by 2.7% [8].

Lockheed Martin's Contract and Market Position - Lockheed Martin secured a $17.9 million contract modification for continued flight test support under Foreign Military Sales, expected to be completed by March 2027 [1][2] - The contract includes maintenance, safety inspections, and infrastructure support for aircraft testing, with work to be executed in multiple locations including Fort Worth, TX, and Patuxent River, MD [2][3] - The company's Sikorsky unit offers extensive MRO services, including dynamic systems, blades, and avionics, contributing to its ability to secure significant MRO contracts [6] Growth in Military Aviation MRO Market - The global military aviation MRO market is projected to grow from $42.49 billion in 2025 to $48.81 billion by 2030, at a CAGR of 2.8% [5] - Rising demand for fighter jets and related MRO services is driven by increased global defense spending, positioning Lockheed Martin as a key player in this market [4][5] - Lockheed Martin's partnership with Asia Pacific Aerospace in September 2024 aims to enhance Black Hawk fleet repair services, further solidifying its market position [7] Opportunities for Other Defense Companies - RTX Corporation's Pratt & Whitney unit opened a $255 million facility in October 2024 to meet growing demand for engine MRO services, with a long-term earnings growth rate of 10.3% [9][10] - BAE Systems offers comprehensive aircraft support, including spare parts and advanced systems, with a long-term earnings growth rate of 11.1% and projected 2025 sales growth of 58.4% [10][11] - AAR Corp, the largest independent aerospace MRO provider in North America, secured a $1.2 billion contract in September 2024 for P-8A Poseidon jet maintenance, with projected fiscal 2025 sales growth of 19.5% [12] Lockheed Martin's Stock Performance - Lockheed Martin's stock has risen 18.8% in the past year, outperforming the industry's 2.5% growth [13] - The company currently holds a Zacks Rank 3 (Hold) [13]