
Lockheed Martin [LMT] on Tuesday posted declines in its top and bottom lines in the first quarter due to program transitions and supply chain and operations challenges related to COVID-19. COVID impacts led Lockheed Martin last fall to reduce its sales outlook for 2021 and 2022 and suggest about 2 percent growth in 2023. Net income in the first quarter slipped 6 percent to $1.7 billion, $6.44 earnings per share (EPS), from $1.8 billion ($6.56 EPS) a year ago, topping…