LMT - Lockheed Martin GAAP EPS of $6.44 beats by $0.28 revenue of $14.96B misses by $530M

Lockheed Martin press release (NYSE:LMT): Q1 GAAP EPS of $6.44 beats by $0.28. Revenue of $14.96B (-8.2% Y/Y) misses by $530M. Revenue break-up: Missiles and Fire Control net sales $2.45B (-11%Y/Y) vs. consensus of $2.63B; Aeronautics net sales $6.4B (+0.2% Y/Y) vs. consensus of $6.48B; Rotary and Mission Systems net sales $3.55B (-14% Y/Y) vs. consensus of $3.88B; Space net sales $2.56B (-15% Y/Y) vs. consensus of $2.59B. "Lockheed Martin (LMT) had a solid start to the year by delivering margin expansion and free cash flow above our expectations despite recent Covid-surge impacts on our operations and supply chain. We remain confident in our guidance for the remainder of the year and our growth outlook beyond," said Lockheed Martin Chairman, President and CEO James Taiclet. For FY2022, the company expects Net sales of ~$66B vs. consensus of $66.11B and diluted EPS of ~$26.7 vs. consensus of $26.78.

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Lockheed Martin GAAP EPS of $6.44 beats by $0.28, revenue of $14.96B misses by $530M