LMT - Lockheed Martin's Q1 Revenue Climbs Amid Fluctuating Profit Margins 2024 Outlook Reaffirmed | Benzinga
Lockheed Martin Corp (NYSE:LMT) reported first-quarter 2024 net sales growth of 13.7% year-over-year to $17.195 billion, above the consensus of $15.99 billion.
Adjusted EPS of $6.33, down from $6.43 YoY, topped the consensus of $5.81.
The gross margin contracted 194 bps to 11.6%. The operating profit declined slightly to $2.03 billion, and the margin contracted by 167 bps to 11.8%.
Aeronautics sales were $6.845 billion (+9% Y/Y), and the operating margin was 9.9%, down from 10.8% YoY.
Missiles and Fire Control sales of $2.99 billion (+25% Y/Y); operating margin was 10.4%, down from 15.8% YoY.
Rotary and Mission Systems sales of $4.09 billion (+16% Y/Y); operating ...