LMT - Lockheed Martin Non-GAAP EPS of $6.73 beats by $0.28 revenue of $16.7B beats by $810M; raises FY2023 outlook

2023-07-18 07:31:55 ET

• Lockheed Martin press release ( NYSE: LMT ): Q2 Non-GAAP EPS of $6.73 beats by $0.28 .
• Revenue of $16.7B (+8.1% Y/Y) beats by $810M .
• Shares +1.07% PM.
• The company increased FY2023 outlook: Net sales from $65B - 66B to $66.25B - $66.75B vs. consensus of $65.8B; Diluted EPS of $26.60 - $26.90 to $27 to $27.2  vs. consensus of $26.85; Free cash flow: ~$6.20B.
• CEO comment: "Given the strength of our year-to-date results and ongoing demand for our signature programs and advanced technologies, we are raising our full year sales and earnings per share outlooks for 2023. We are confident in our return to growth and ability to reward our shareholders over the long run with reliable free cash flow per share expansion and cash deployment. Along the way, we will continue developing and investing in our 21st Century Security vision to strengthen the resilience and responsiveness of the U.S. defense production system, elevate deterrence through the acceleration of digital technologies into critical missions with our commercial industry partners, and deepen our industrial relationships with allies and partner nations for production and sustainment operations."

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