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

Cal Biesecker By
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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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