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Pension Tailwind, Strong Operating Performance Lift Lockheed Martin’s First Quarter Earnings

Cal Biesecker By
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Pension Tailwind, Strong Operating Performance Lift Lockheed Martin’s First Quarter Earnings
The F-35 Joint Strike Fighter. Photo by Lockheed Martin.

Despite a decline in sales, Lockheed Martin [LMT] on Tuesday posted stronger than expected first quarter earnings due to a swing to pension income and higher operating profits at most of its business segments. The higher operating profits combined with an ongoing share repurchase program led the company to raise its earnings guidance for the year. Net income climbed 23 percent to $933 million, $2.87 earnings per share (EPS), from $761 million ($2.33 EPS) a year ago, soaring above consensus…

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