Lockheed Martin ( NYSE: LMT ) is scheduled to announce Q2 earnings on Tuesday, Jul. 19, before market open.
Consensus EPS estimate is $4.67 and consensus revenue estimate is $16.02B (-5.9% Y/Y).
Over the last 1 year, LMT has beaten EPS and revenue estimates 75% of the time.
Over the last 3 months, EPS estimates have seen 6 downward revisions while revenue estimates have seen 10 downward.
LMT fell after posting Q1 revenue miss , hurt by COVID-related supply chain snags, and reaffirming its FY22 outlook.
SA contributor Gen Alpha in a bullish analysis said LMT should benefit from global tensions and will likely return more capital to shareholders this year.
Recent news:
- The U.S. Air Force successfully tested a hypersonic missile from LMT, Reuters reported . In a separate test, the Defense Advanced Research Projects Agency demonstrated its Operational Fires program.
- LMT bought annuity contracts to transfer ~$4.3B of gross pension obligations to Athene ( ATH ), expected to result in a ~$1.5B non-cash settlement charge in Q2.
- LMT CFO Jay Malave said the firm still needs to resolve some items with the Dept. of Defense to wrap up 3 years of talks on F-35 production lots, Bloomberg reported .
- LMT seeks to nearly double its production of Javelin anti-tank missiles to 4K/year, CEO Jim Taiclet told CBS .
- Countries buying LMT's F-35 jets may face millions in added costs if issues arise during long-delayed combat simulation tests, Bloomberg reported .
Some recent orders:
- Greece sent an official request to the U.S. to purchase 20 F-35 jets and is considering acquiring a second set.
- LMT unit Sikorsky Aircraft was awarded a $429.17M contract related to Black Hawk choppers. It also bagged a ~$2.28B contract for procuring 120 Black Hawk helicopters for FY22-26.
- LMT was awarded a $632.13M contract for engineering and support for F-35 Lightning II aircraft.
SA Quant rating on LMT is Hold as it scored poorly on factor grades valuation, growth, earnings estimate revisions.
But SA Authors on average rated LMT Buy , in-line with bullish sell-side ratings .
LMT stock, which gained ~11% YTD, outperformed the S&P 500 and S&P 500 Aerospace & Defense over the last 1 year .
For further details see:
Can Lockheed Martin shrug off supply chain woes to post Q2 earnings beat?