Lockheed Martin Corporation Posts Lower Q1 Revenues; Beats Earnings Estimates (LMT)

Before the opening bell on Tuesday, Lockheed Martin (LMT) reported its first quarter earnings, with net sales decreasing and earnings increasing over last year’s Q1.

LMT’s Earnings in Brief

Lockheed Martin reported first quarter revenues of $10.65 billion, down from last year’s Q1 revenues of $11.07 billion. Net earnings for the quarter came in at $933 million, a significant increase over last year’s Q1 figure of $761 million. The company's diluted EPS came in at $2.87 for the quarter, compared to last year’s figure of $2.33. LMT shattered analysts’ EPS estimates of $2.53, but came in below revenue estimates of $10.9 billion.

CEO Commentary

LMT’s chairman, president and CEO, Marillyn Hewson, had the following to say: ”The strong earnings and operating cash delivered in the first quarter are a result of our continued focus on program performance, affordability and meeting commitments to our customers. Our diverse portfolio of products and services, investment in future innovations and dedicated workforce give me confidence that we’ll continue to deliver outstanding results for our customers and return value for our shareholders.”

LMT’s Dividend

Lockheed Martin most recently paid a quarterly dividend of $1.33 on March 28. We expect the company to declare a dividend of $1.33 in the next week.

Stock Performance

LMT stock was inactive in pre-market trading. YTD, the company’s stock is up 10.56%.

LMT Dividend Snapshot

As of Market Close on April 21, 2014

Click here to see the complete history of LMT dividends.