Lockheed Martin Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company announced net sales of $15,137 million compared to $13,752 million a year ago. Operating profit was $1,859 million compared to $1,428 million a year ago. Earnings from continuing operations before income taxes were $1,692 million compared to $1,255 million a year ago. Net loss from continuing operations were $715 million or $2.50 per diluted share compared to profit of $959 million or $3.25 per diluted share a year ago. Net loss was $642 million or $2.25 per diluted share compared to profit of $988 million or $3.35 per diluted share a year ago. The increase in Net Sales were attributable to higher net sales of approximately $570 million for the F-35 program primarily due to increased production volume and about $150 million for the C-130 program due to increased aircraft deliveries (10 aircraft delivered in 2017 compared to eight in 2016). These increases were partially offset by a decrease of approximately $85 million for the C-5 program due to fewer aircraft deliveries (two aircraft delivered in 2017 compared to three in 2016).

For the year, the company announced net sales of $51,048 million compared to $47,248 million a year ago. Operating profit was $5,921 million compared to $5,549 million a year ago. Earnings from continuing operations before income taxes were $5,269 million compared to $4,886 million a year ago. Net profit from continuing operations were $1,929 million or $6.64 per diluted share compared to profit of $3,753 million or $12.38 per diluted share a year ago. Net profit was $2,002 million or $6.89 per diluted share compared to profit of $5,302 million or $17.49 per diluted share a year ago.  Net cash provided by operating activities was $6,476 million compared to $5,189 million a year ago. Capital expenditures were $1,177 million compared to $1,063 million a year ago.

The company provided earnings guidance for the year 2018. For the year, the company expected net sales in the range of $50,000 million to $51,500 million, consolidated operating profit in the range of $6,830 million to $6,980 million and diluted earnings per share – GAAP in the range of $15.20 to $15.50.