7/26, 1:35 PM (Source: TeleTrader)
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Lockheed's Q2 revenue rises 5% YoY to $17.0B

Lockheed Martin Corp. reported on Monday its revenues in the second quarter climbed 5% per annum to land at $17.03 billion. Operating profit was also up 5% at $2.19 billion. Net earnings increased 12% to $1.82 billion, or $6.52 per share.

All segments of the company reported an increase in net sales. Aeronautics revenue grew 3% to $6.67 billion, while its operating profit fell 23% to $572 million. Missiles and Fire Control posted a 5% rise in net sales at $2.94 billion while operating profit gained 8% to stand at $401 million. The figures for Rotary and Mission Systems were up 5% and 7% to $4.24 billion and $458 million respectively. For the Space segment, they were 10% and 33% higher at $3.18 billion and $335 million.

"Our teams continue to deliver on key platform programs while also advancing technologies critical for 21st century deterrence and scientific discovery. And as a result, we are maintaining our prior guidance for full-year sales [at $67.30 billion - $68.70 billion], segment operating profit, and cash from operations, while raising guidance for full-year EPS [to $26.70 - $27.00]," CEO James Taiclet stated.

Breaking the News / MD