Lockheed Martin: sales up 14% in Q1
The company notes an increase in activity in each of its divisions, with +10% for Space, +9% for Aeronautics, +25% for Missile & Fire Control and +16% for Rotary & Mission Systems.
Total consolidated operating income was virtually stable, at $2029 million (compared with $2037 million a year earlier).
Net income finally stood at $1.54 bn (vs. $1.69 bn in Q1 2023), down 8.8%, and showed EPS of $6.39 vs. $6.61 a year earlier (or $6.33 on an adjusted basis, vs. $6.43 twelve months earlier).
Against this backdrop, Lockheed Martin confirms its targets, with net sales expected between $68.5 and $70 billion in 2024, and EPS between $25.65 and $26.35.
Jim Taiclet, Lockheed Martin's Chairman and CEO, hailed the company's "strong start to the year" and noted that it had generated "solid cash flow of nearly $1.3 billion, while taking aggressive steps to further strengthen production capacity".
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