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Business/Financial

Lockheed Martin Posts Strong Sales In Second Quarter As Net Income Dips Slightly

By Cal Biesecker

Tuesday, July 23rd, 2024

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Lockheed Martin Posts Strong Sales In Second Quarter As Net Income Dips Slightly

GMLRS Alternative Warhead Firing Photo: Lockheed Martin

Lockheed Martin [LMT] on Tuesday reported strong sales growth in its second quarter driven by its mission systems, missiles, and aircraft businesses, although net income fell slightly on non-operating costs. Net income dipped 2 percent to $1.6 billion, $6.85 earnings per share (EPS), from $1.7 billion, $6.63 EPS, a year ago, handily topping consensus estimates by 40 cents EPS. Per share earnings were higher due to lower share count. Impairment and severance charges coupled with small investment losses clipped $63…

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