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Lockheed Martin Posts Higher Sales, Earnings In Second Quarter; Raises Guidance

By Cal Biesecker

Tuesday, July 19th, 2016

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Lockheed Martin Posts Higher Sales, Earnings In Second Quarter; Raises Guidance

The first two combat-coded F-35A Lightning II aircraft arrive at Hill Air Force Base, Utah, Sept. 2, 2015. Photo: Air Force.

Lockheed Martin [LMT] on Tuesday reported higher sales and earnings in its second quarter and increased its outlook this year for sales and earnings.Net income in the quarter surged 10 percent to $1 billion, $3.32 earnings per share (EPS), from $929 million ($2.94 EPS) a year ago, well ahead of consensus estimates of $2.94 EPS. The bottom line results benefited from a pension tailwind, an accounting change, and a slight increase in segment operating profit.At the operating level, Lockheed Martin’s…

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