Lockheed Martin Corp. (NYSE: LMT) posted $14.4 billion in second quarter revenue, beating estimates and improving the Bethesda defense giant’s 2019 forecast.
Revenue was up 7.7% from the $13.4 billion in net sales Lockheed recorded in the second quarter of 2018, according to Tuesday’s earnings report. Earnings per share were up to $5 from an estimate of $4.78.
In a statement, Chairman, President and CEO Marillyn Hewson said the quarter pushed the contractor’s backlog “to a new record level” — now stretching to more than $136 billion.
The company moved its 2019 outlook to diluted earnings per share of $20.85 to $21.15, up from $20.05 to $20.35. It’s now forecasting $58.25 billion to $59.75 billion in net sales, up from a range of $56.75 billion to $58.25 billion.
Lockheed’s four business segments — aeronautics, missiles and fire control, rotary and mission systems, and space — all posted revenue gains in the second quarter. Its missiles and fire control unit posted…Read the full story from the Washington Business Journal.