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Lockheed Martin Plows Forward With Strong Third Quarter

Cal Biesecker By
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Lockheed Martin Plows Forward With Strong Third Quarter
Lockheed Martin Chairman, President and CEO Marillyn Hewson. Photo: Lockheed Martin

Lockheed Martin [LMT] on Tuesday posted strong third quarter financial results driven by gains in three of its reporting segments and the company raised its earnings guidance for the year due to a tax benefit. Net income increased 9 percent to $1.6 billion, $5.66 earnings per share (EPS), from $1.5 billion ($5.14 EPS) a year ago, torching consensus estimates by 63 cents per share. Total operating margin was 13.9 percent, up 20 basis points from a year ago. Sales increased…

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