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$LMT (-0,89%) | Lockheed Martin Q3'24 Earnings Highlights


๐Ÿ”น Adj EPS: $6.84 (Est. $6.50) ๐ŸŸข

๐Ÿ”น Revenue: $17.1B (Est. $17.37B) ๐Ÿ”ด; 1% YoY

๐Ÿ”น Free Cash Flow: $2.1B; DOWN from $2.5B YoY

๐Ÿ”น Total Backlog: $165.7B; UP +6.2% YoY


FY24 Guidance:

๐Ÿ”น EPS: $26.65 (Prev. $26.10โ€“$26.60; Est. $26.44) ๐ŸŸข

๐Ÿ”น Revenue: $71.25B (Prev. $70.50Bโ€“$71.50B; Est. $71.06B) ๐ŸŸข

๐Ÿ”น Free Cash Flow: ~$6.2B (Prev. $6.0Bโ€“$6.3B)


Other Key Metrics:

๐Ÿ”น Net Earnings: $1.6B; DOWN from $1.7B YoY

๐Ÿ”น Operating Profit: $2.14B (Est. $2.07B) ๐ŸŸข; UP +5% YoY

๐Ÿ”น Operating Margin: 12.5% (vs. 12.1% YoY)


Segment Performance:

Aeronautics:

๐Ÿ”น Revenue: $6.49B (Est. $6.80B) ๐Ÿ”ด; DOWN -3% YoY

๐Ÿ”น Operating Profit: $659M; DOWN -2% YoY

๐Ÿ”น Operating Margin: 10.2%

๐Ÿ”ธ 48 F-35 aircraft delivered; revenue affected by F-35 contract delays


Missiles and Fire Control (MFC):

๐Ÿ”น Revenue: $3.18B; UP +8% YoY

๐Ÿ”น Operating Profit: $456M; UP +15% YoY

๐Ÿ”น Operating Margin: 14.4%

๐Ÿ”ธ Strong growth in GMLRS and LRASM missile programs


Rotary and Mission Systems (RMS):

๐Ÿ”น Revenue: $4.37B; UP +6% YoY

๐Ÿ”น Operating Profit: $483M; Flat YoY

๐Ÿ”น Operating Margin: 11.1%

๐Ÿ”ธ Higher volume on Integrated Warfare Systems and Sikorsky helicopter programs (CH-53K, Seahawk, Black Hawk)


Space:

๐Ÿ”น Revenue: $3.08B; DOWN -1% YoY

๐Ÿ”น Operating Profit: $272M; UP +5% YoY

๐Ÿ”น Operating Margin: 8.8%

๐Ÿ”ธ Growth in strategic missile defense programs offset by lower volume on the Orion program


Shareholder Returns:

๐Ÿ”น Dividends and Share Repurchases: Returned $1.6B to shareholders

๐Ÿ”น Increased Share Repurchase Authorization: By $3.0B to a total of $10.3B

๐Ÿ”น Increased Quarterly Dividend: +5% to $3.30 per share


Operational Highlights:

๐Ÿ”น Key Contracts: Strong demand for F-35, missile programs, and classified projects

๐Ÿ”น F-35 Program Update: Revenue impacted by delays in Lots 18-19 contract authorization, with resolution expected in Q4

๐Ÿ”ธ Expect recovery of delayed F-35 revenue and cash flow in Q

๐Ÿ”น Cash from Operations: $2.4B, reflecting solid cash generation despite F-35 delays

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