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Lockheed Martin's stock price performance relative to major defense contractors by end of 2024
2
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Story
Lockheed Martin Raises Profit Forecast to $26.65 Amid Surging Defense Demand
Oct 22, 2024, 11:19 AM
Lockheed Martin has raised its full-year profit forecast after reporting third-quarter earnings per share of $6.84, surpassing analysts' estimates of $6.50, driven by surging demand for military equipment amid escalating global tensions. The defense contractor now expects full-year EPS of $26.65, up from its previous guidance, and has adjusted its revenue outlook to $71.25 billion. Lockheed Martin's Q3 revenue was $17.1 billion, slightly below estimates, and its backlog increased to $165.69 billion, reflecting a 6.2% year-over-year growth.
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