Lockheed Martin ( NYSE: LMT ) rose 0.7% in premarket trading after the defense contractor reported Q3 adjusted EPS of $6.87, beating estimates by $0.15. Its revenue of $16.58 billion missed the consensus estimate by $110 million.
The company added as much as $14 billion to its stock buyback program. It plans $4 billion in repurchases of common stock during the final three months of 2022, bringing the yearly total to $8 billion.
Lockheed Martin | Net sales (mln) | ||
Business unit | Q3 2022 | Q3 2021 | % change |
Aeronautics | $7,089 | $6,568 | 7.9% |
Missiles and Fire Control | $2,831 | $2,781 | 1.8% |
Rotary and Mission Systems | $3,781 | $3,980 | -5.0% |
Space | $2,882 | $2,669 | 8.0% |
Total | $16,583 | $16,028 | 3.5% |
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Lockheed Martin rises in premarket trading on adjusted EPS beat