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Lockheed Martin Posts Higher Sales, Earnings In Third Quarter; Sees Flattish 2023

Cal Biesecker By
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Lockheed Martin Posts Higher Sales, Earnings In Third Quarter; Sees Flattish 2023
James Taiclet, chairman, president and CEO of Lockheed Martin. Photo: Lockheed Martin

Lockheed Martin [LMT] on Tuesday reported higher sales in its third quarter due primarily to its work on the F-35 and air and missile defense programs while earnings tripled from a year ago when pension costs led to more than $1 billion in charges. The company also announced a $14 billion multi-year share repurchase program that includes $4 billion in accelerated share repurchases in the fourth quarter that will bring total stock buybacks to $8 billion in 2022, double earlier…

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