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Lockheed Martin Posts Strong Second Quarter Results; Raises Guidance

Cal Biesecker By
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Lockheed Martin Posts Strong Second Quarter Results; Raises Guidance
Lockheed Martin Chief Financial Officer Bruce Tanner. Photo: Lockheed Martin

Lockheed Martin [LMT] on Tuesday reported strong second quarter financial results driven by higher sales, lower taxes, a pension benefit and improved operating performance.Net income increased 26 percent to $1.2 billion, $4.05 earnings per share (EPS), from $955 million ($3.28 EPS) a year ago, topping consensus estimates by 13 cents per share. Earnings were higher despite a $76 million (26 cents EPS) after-tax charge related to severance expenses and restructuring activities.Sales increased nearly 7 percent to $13.4 billion from $12.6…

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