UPDATE: Lockheed Martin Posts Lower Q4 Earnings
Lockheed Martin (NYSE: LMT) reported downbeat earnings for the fourth quarter.
Lockheed Martin's quarterly net earnings from continuing operations declined 14.2% to $488 million, or $1.50 per share, versus a year-ago profit of $569 million, or $1.73 per share.
Its revenue fell to $11.5 billion from $12.1 billion. However, analysts were projecting earnings of $2.02 per share on revenue of $11.34 billion.
Lockheed expects full-year profit from continuing operations of $10.25 to $10.55 per share on sales of $44 billion to $45.5 billion.
Lockheed Martin shares closed at $156.65 yesterday.
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