Lockheed Martin (LMT
) reported its fourth quarter earnings early on Thursday morning, posting a decline in its quarterly sales from last year’s same period.
LMT’s Earnings in Brief
Lockheed Martin reported fourth quarter revenues of $11.5 billion, down from last year’s Q4 revenues of $12.1 billion. Net earnings for the quarter came in at $488 million, or $1.50 per share, down significantly from last year’s Q4 figures of $569 million, or $1.73 per share. However, on an adjusted basis, not including one-time charges, LMT’s EPS for the quarter came in at $2.04. LMT beat analysts’ expectations of $1.99 EPS on revenues of $11.34 billion. Looking ahead to the FY2014, Lockheed Martin sees EPS in the range of $10.25 to $10.55, and revenue in the range of $44 billion to $45.5 billion.CEO Commentary
Marillyn Hewson, LMT’s chairman, president and CEO, had the following comments: ”Our employees delivered exceptional performance for our customers in 2013 resulting in record backlog, earnings, and profit margin as well as strong cash generation. Looking ahead to 2014, we will continue our focus on improving operational efficiency, reducing our cost structure, investing in innovations to address our customers’ future challenges and returning value to our shareholders.”
Lockheed’s Dividend
Lockheed Martin announced no changes to its dividend in its earnings report. The company most recently raised its dividend for its December payout, boosting the quarterly dividend from $1.15 to $1.33. The company should declare its next dividend in the coming weeks.
Stock Performance
LMT stock was up $1.34, 0r 0.86%, in pre-market trading on Thursday. This year, the company’s stock is up 7.24%.
No comments:
Post a Comment