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Lower Tax Rate, Pension Tailwind Drive Profit Increase At Lockheed Martin

Lower Tax Rate, Pension Tailwind Drive Profit Increase At Lockheed Martin
The Marine Corps’ short takeoff and vertical landing (STOVL) F-35B performs a vertical landing. Photo: Lockheed Martin.

Lockheed Martin [LMT] on Monday posted higher sales and net income in its second quarter with the bottom line gains driven by a lower tax rate and favorable pension adjustments.The solid results were above the company’s expectations and led it to increase earnings guidance for the year.The company was slated to report the quarterly results on Tuesday but moved the release up a day to coincide with its announcement that it has agreed to acquire Sikorsky Aircraft from United Technologies…

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