Lockheed Martin Corp. (LMT) delivered impressive fourth-quarter financial results that surpassed analyst expectations. Although the company’s Q4 net income slightly declined compared to the previous year, Lockheed Martin’s sales remained robust and exceeded both the previous year’s figures and analyst estimates.
Q4 Financial Performance
During the three months ending on December 31, Lockheed Martin’s net income reached $1.87 billion, or $7.58 per share. This is a slight decrease from the net income of $1.91 billion, or $7.40 per share, reported in the same period last year. Despite this decline, the company’s earnings per share outperformed the FactSet consensus estimate of $7.29, demonstrating its strong financial standing.
Q4 sales totaled $18.9 billion, which was slightly lower than the $19 billion recorded in the previous year. However, these sales figures surpassed analyst expectations of $17.96 billion, indicating Lockheed Martin’s continued success in generating revenue.
Record-Breaking Backlog and Future Projections
Lockheed Martin achieved a significant milestone during Q4 with a record backlog of $160.6 billion. This achievement showcases the company’s robust order book and provides a strong foundation for future growth.
Looking ahead, Lockheed Martin anticipates earnings between $25.65 and $26.35 per share for the year 2024. Although this estimation falls below the FactSet consensus estimate of $26.61 per share, it still reflects a positive outlook for the company. Additionally, Lockheed Martin expects sales in the range of $68.5 billion to $70 billion in 2024, aligned with its strategic goals.
Conclusion
Lockheed Martin Corp.’s fourth-quarter performance demonstrated resilience and excellence in the face of challenges. With strong financial results and a record-breaking backlog, the company remains well-positioned for continued success in the coming years.
