:

Business/Financial

Severance Charge, Operating Declines Lead Lockheed Martin’s First Quarter Earnings Down

By Cal Biesecker

Tuesday, April 26th, 2016

SHARE:

Severance Charge, Operating Declines Lead Lockheed Martin’s First Quarter Earnings Down

Lockheed Martin's F-35 fighter helped drive higher sales in the second quarter. Photo: Lockheed Martin

Lockheed Martin [LMT] on Tuesday posted lower net income on due to severance charges and lower operating profits at several of its segments despite higher sales.Net income fell 10 percent to $794 million, $2.58 earnings per share (EPS), from $878 million ($2.74 EPS) a year ago, missing consensus estimates by a penny per share. Sales increased 16 percent to $11.7 billion from $10.1 billion a year ago.Most of the decline in earnings, $64 million (21 cents EPS), is due to…

Congress

U.S. Fighter Fleet Will Expand By 2040 But More Stealth Aircraft Will Mean Less Availability, CBO Says

The number of fighter aircraft in the U.S. military inventory will decline over the next few years before expanding to a greater number than currently, but their availability for operational […]

Congress

White House Details ‘Concerns’ With Shipbuilding, Spaced-Based Interceptor Oversight In House’s NDAA

The White House has detailed “a number of concerns” with the newly-passed House version of the next defense policy bill, to include the legislation’s limits on procuring Navy ships built […]

Congress

House Narrowly Votes To Pass $1.15 Trillion FY ‘27 NDAA, Blueprint For Reconciliation 3.0

The House on Wednesday narrowly voted to pass its $1.15 trillion version of the fiscal year 2027 National Defense Authorization Act (NDAA) and a blueprint for a third reconciliation bill […]

Congress

Senate Appropriators Press On Supplemental’s Requests Beyond Iran Scope, Hegseth Urges Full Funding

Senate appropriators have pressed Pentagon leadership on the decision to include funds in the Iran war supplemental request for items beyond the current military operation, while Defense Secretary Pete Hegseth […]