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COVID Impacts, As Expected, Help Send Lockheed Martin’s Earnings And Sales Down In First Quarter

COVID Impacts, As Expected, Help Send Lockheed Martin’s Earnings And Sales Down In First Quarter
James Taiclet, chairman, president and CEO of Lockheed Martin. Photo: Lockheed Martin

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…

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