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Sales, Earnings Slip At Lockheed Martin In First Quarter

Cal Biesecker By
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Sales, Earnings Slip At Lockheed Martin In First Quarter
Aerospace Welding supports a number of military aircraft including the F-16 fighter. Photo: Lockheed Martin.

Lockheed Martin [LMT] on Tuesday posted lower sales and earnings in its first quarter driven by a number of programs, but the company increased its earnings guidance for the year due to a combination of better expectations for business segment profit and higher share repurchase activity.Net income dipped 6 percent to $878 million, $2.74 earnings per share (EPS), from $933 million ($2.87 EPS) a year ago, still topping consensus estimates by 24 cents EPS. Segment operating margins slipped 50 basis…

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