What's Going On With Lockheed Martin Stock Today?

Lockheed Martin Corp LMT shares are trading higher Tuesday after the company reported fourth-quarter financial results that topped average analyst estimates.

Q4 Results: Lockheed Martin reported fourth-quarter revenue of $19 billion, which beat average analyst estimates of $18.27 billion, according to Benzinga Pro. The company reported quarterly adjusted earnings of $7.79 per share, which beat estimates of $7.39 per share.

"Lockheed Martin's stronger than expected finish to the year demonstrated the company's reliability and resiliency to meet commitments in challenging environments," said James Taiclet, chairman, president and CEO of Lockheed Martin.

"As we track toward our objective of growth resumption in 2024, we will continue to execute our dynamic and disciplined capital allocation program, by reinvesting in our business and pursuing growth opportunities, and returning capital to shareholders."

Outlook: Lockheed expects full-year 2023 revenue to be between $65 billion and $66 billion versus estimates of $65.74 billion. The company anticipates full-year earnings in a range of $26.60 to $26.90 per share versus estimates of $26.93 per share.

See Also: US Stocks Look Set For Lower Start On Tuesday Ahead Of Microsoft's Earnings: Analysts Caution Of More Near-Term Volatility

LMT Price Action: Lockheed Martin has a 52-week high of $498.95 and a 52-week low of $370.78.

The stock was up 1.86% at $449.50 at time of publication, according to Benzinga Pro.

Photo: courtesy of Lockheed Martin.

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Posted In: EarningsNewsMoversJames Taicletwhy it's moving
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