+22 C°
Traffic jam:   6

Lockheed Martin net profit up 6% in Q1

21 April 2021
1 min.
Lockheed Martin net profit up 6% in Q1

Lockheed Martin earnings

Net income at US military-industrial group Lockheed Martin (NYSE:LMT) Corp. rose 6 percent to $1.8 billion, or $6.56 per share, compared with $1.7 billion, or $6.08 per share, in the same period last year.

Lockheed Martin's quarterly revenue rose 4 percent to $16.258 billion from $15.651 billion, the company said in a press release.

However, analysts on average had forecast earnings of $6.30 per share on revenue of $16.3 billion.

Revenue at Lockheed Martin's aircraft division was almost flat year on year last quarter at $6.39 billion and operating profit rose 3% to $693 million.

The missile and fire control systems division increased revenue by 5% to $2.75 billion, with operating profit remaining flat at $396 million.

Revenue in the rotor and flight systems division rose 10% to $4.11 billion and operating profit jumped 15% to $433 million.

The space division recorded a 3% increase in revenues to $3.02 billion and a 19% decline in operating profits to $227 million.

The company raised its earnings guidance for the year to $26.4 to $26.7 per share from the $26 to $26.3 per share forecast in January. The company raised its full-year revenue forecast to $67.3-68.7 billion from $67.1-68.5 billion. It is worth noting that analysts had estimated these figures at $26.33 billion and $68.1 billion respectively.

Lockheed Martin shares are losing ground in early trading on Tuesday. The company's capitalisation has risen 9.3 per cent since the start of the year, while the Standard Poor's 500 stock index has added 10.5 per cent in the period.

Companies1 in the news

Lockheed Martin
1 place


Rating companies
56 Mention
55 Mention
52 Mention
51 Mention
Dow Jones
43 Mention
43 Mention
31 Mention


News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director