:

Business/Financial

Lockheed Martin Delivers Strong Third Quarter, Raises Earnings Guidance

By Cal Biesecker

Tuesday, October 23rd, 2018

SHARE:

Lockheed Martin Delivers Strong Third Quarter, Raises Earnings Guidance

Lockheed Martin's F-35 Lightning II at the 2018 Paris Air Show. Photo: Lockheed Martin

Higher operating profits combined with lower taxes and pension expenses lifted Lockheed Martin [LMT] to a strong third quarter and the company once again increased its outlook for earnings this year.The defense contractor on Tuesday posted a 53 percent boost in net income to nearly $1.5 billion, $5.14 earnings per share (EPS), from $963 million ($3.32 EPS) a year ago, smashing consensus estimates by 87 cents per share. Sales increased 16 percent to $14.3 billion from $12.3 billion.All four of…

Congress

HASC Bill Would Allow Air Force To Buy More Than 267 F-15EXs

The House Armed Services Committee’s (HASC) fiscal 2027 defense authorization bill would allow the Air Force to buy more than 267 F-15EX fighters by Boeing [BA] and would extend the […]

Budget

Defense Bill Tries To Block Foreign Shipbuilding, Adds $1 Billion For Second DDG

The final version of the House Armed Services Committee’s (HASC) fiscal year 2027 defense authorization bill included two amendments pushed by Rep. Jared Golden (D-Maine) that restrict procuring Navy warships […]

Congress

Replacement Munitions May Not Be One-for-One; May Include New Weapons Chemistries, Wittman Says

As the Pentagon looks to refill inventories of weapons used in Iran and elsewhere, replacements may not be one for one but instead mark a new portfolio mix, according to […]

Congress

HASC Approves $1.15 Trillion FY ‘27 NDAA With ‘Right To Repair’ Reform

The House Armed Services Committee (HASC) has approved its $1.15 trillion version of the fiscal year 2027 National Defense Authorization Act (NDAA), with the panel moving to adopt a bipartisan […]