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Even after a share-price liftoff, Lockheed Martin stock still has rocket fuel in the tank.In light of conflicts in the Middle East and Ukraine, one might assume that aerospace/defense giant Lockheed Martin (LMT 0.65%) would be a darling on Wall Street. Yet, Lockheed Martin stock gained little ground in 2024's first half.Then July came around, and suddenly Lockheed Martin stock's trajectory went from horizontal to vertical. This raises the question of "Is it too late to invest?" and, just as importantly, "Wh ...

VanderWolf-Images/iStock Editorial via Getty Images The Aerospace and Defense Industry has long been a haven for income-oriented investors, boasting a deep roster of dividend-paying companies. Those looking to enter this space face a fortunate dilemma, as eighteen are currently rated as Buy or Strong Buy by analysts. This article aims to help readers navigate these promising options and identify the company that aligns most closely with their investment goals. For dividend growth investors, I argue that at ...

inhauscreativeIntroduction It's time to talk about Lockheed Martin Corporation (NYSE:LMT), a company that was my biggest holding until I bought the Texas Pacific Land Corporation (TPL) this year. During the pandemic, I started accumulating LMT stock for a number of reasons, including its anti-cyclical business model, its position at the very top of the NATO defense supply chain, and the fact that due to pandemic and government budget-related headwinds, the stock was simply irresistible (read: cheap). De ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number: 1-11437 LOCKHEED MARTIN CORPORATION (Exact name of registrant as specified in its charter) Maryland ...

Key TakeawaysLockheed Martin beat analysts' revenue and profit expectations when it posted second-quarter earnings Tuesday.The company also raised its full-year guidance.Lockheed Martin Chief Executive Officer (CEO) Jim Taiclet touted the defense and aerospace contractor's $160 billion order backlog. Lockheed Martin (LMT) surpassed analysts' expectations with its second-quarter results Tuesday and raised its full-year outlook, sending shares higher. The defense and aerospace contractor lifted its full-year ...

Financial Data and Key Metrics Changes - Sales increased by 9% year-over-year to over $18 billion, with a sequential increase of 5% [8][20] - Segment operating profit rose by 10% year-over-year to $2 billion, with consolidated margins at 11.3% [20] - GAAP earnings per share increased by 3% year-over-year to $6.85, driven by higher profit and a lower share count [21] Business Line Data and Key Metrics Changes - Aeronautics segment sales increased by 6% year-over-year, primarily due to higher volumes in F-35 and F-16 programs [24] - Missiles and Fire Control (MFC) saw a 13% increase in sales, driven by production ramps in precision fires programs [25] - Rotary and Mission Systems (RMS) sales increased by 17%, led by higher volume in integrated warfare systems and Sikorsky programs [26] - Space segment sales grew by 1% year-over-year, driven by strategic and missile defense programs [27] Market Data and Key Metrics Changes - The backlog remains strong at nearly $160 billion, more than double the annual revenue [8] - International demand for defense technology solutions continues to grow, with significant orders from countries like Poland and Greece [22][24] Company Strategy and Development Direction - The company is focused on enhancing security through digital technologies and expanding industrial cooperation among allies [8] - Continued investment in innovation and infrastructure is prioritized, with $405 million allocated for research and development [21] - The company aims to maintain a strong position in the defense market by leveraging advanced technologies and improving operational efficiency [8][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in raising the 2024 full-year outlook for sales, segment operating profit, and EPS due to strong performance [8][28] - The supply chain is improving, with ongoing efforts to address part shortages and enhance delivery capabilities [51] - Management remains optimistic about the F-35 program, with expectations for increased deliveries in the coming years [10][39] Other Important Information - The company is actively pursuing international collaborations, including agreements with Australia for advanced defense systems [15][18] - The U.S. defense budget process is ongoing, with expectations for continued funding to support defense initiatives [19] Q&A Session Summary Question: Delivery guidance for F-35 in the second half of the year - Management emphasized safety and quality as priorities for deliveries, with resources in place to meet higher delivery targets [36][37] Question: Impact of F-35 delivery deferrals on accrued revenues - Management indicated that final delivery payments are subject to negotiation, and timing benefits are expected in the coming years [42][43] Question: Future cash flow growth outlook - Management stated that free cash flow growth is expected to continue, with a focus on earnings growth and working capital efficiency [46] Question: Supply chain bottlenecks and demand outlook - Management noted improvements in the supply chain and expressed confidence in meeting demand, supported by a strong backlog [50][51] Question: Profitability outlook for the second half of the year - Management highlighted expected program losses at MFC that will pressure margins, but remains confident in long-term margin improvement [63] Question: Status of the Next Generation Air Dominance (NGAD) program - Management stated that they are prepared to support the NGAD program with advanced facilities and resources [66][67] Question: Supply chain readiness for TR-3 production - Management confirmed that suppliers are aware of demand rates and are prepared to meet production needs for TR-3 configurations [70]

JAMES D. TAICLET Chairman, President and CEO JAY MALAVE Chief Financial Officer MARIA RICCIARDONE Vice President, Treasurer & Investor Relations LOCKHEED MARTIN PROPRIETARY INFORMATION Lockheed Martin Corporation 2nd Quarter 2024 Conference Call July 23, 2024 Webcast login at: www.lockheedmartin.com/investor Webcast replay & podcast available by 2:00 p.m. ET July 23, 2024 at: www.lockheedmartin.com/investor Audio replay available from 2:00 p.m. ET July 23, 2024 through midnight July 24, 2024 Forward-Looking ...

Lockheed Martin (LMT) came out with quarterly earnings of $7.11 per share, beating the Zacks Consensus Estimate of $6.45 per share. This compares to earnings of $6.73 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 10.23%. A quarter ago, it was expected that this aerospace and defense company would post earnings of $5.80 per share when it actually produced earnings of $6.33, delivering a surprise of 9.14%.Over the last four qu ...

Exhibit 99.1 News Release Lockheed Martin Reports Second Quarter 2024 Financial Results • Net sales of $18.1 billion, an increase of 9% year over year • Net earnings of $1.6 billion, or $6.85 per share, inclusive of net non-operational charges of $79 million ($63 million, or $0.26 per share, after-tax) • Cash from operations of $1.9 billion and free cash flow of $1.5 billion • $1.6 billion of cash returned to shareholders through dividends and share repurchases • 2024 outlook increased for sales, segment op ...