LONDON, UK / ACCESSWIRE / February 06, 2018 / Active-Investors.com has just released a free earnings report on Lockheed Martin Corp. (NYSE: LMT). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=LMT. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on January 29, 2018. The aerospace and defense contractor outperformed top- and bottom-line expectations, and provided guidance for full fiscal year 2018. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Lockheed Martin most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
During Q4 2017, Lockheed Martin reported net sales of $15.14 billion, up 10% compared to $13.75 billion in Q4 2016. The Company's revenue numbers topped analysts' estimates of $14.73 billion.
Lockheed Martin's net loss from continuing operations was $715 million, or $2.50 per share, in Q4 2017 compared to net earnings from continuing operations of $959 million, or $3.25 per share, in Q4 2016. The Company's reported quarter results included a net one-time charge of $1.9 billion, or $6.80 per share, primarily related to the estimated impacts of the Tax Cuts and Jobs Act 2017 (Tax Reform).
Excluding the estimated impacts of the Tax Reform, Lockheed Martin's adjusted earnings from continuing operations were $1.2 billion, or $4.30 per share, in Q4 2017 compared to $959 million, or $3.25 per share, in Q4 2016. The Company's earnings beat Wall Street's estimates of $4.04 per share.
Lockheed Martin's net sales were $51.05 billion in FY17 compared to $47.25 billion in FY16. The Company's net earnings from continuing operations were $1.9 billion, or $6.64 per share, in FY17 compared to $3.8 billion, or $12.38 per share, in FY16. Excluding the estimated impacts of the Tax Reform, Lockheed Martin's adjusted earnings from continuing operations were $3.9 billion, or $13.33 per share, in FY17 compared to $3.8 billion, or $12.38 per share, in FY16.
Segment Results
During Q4 2017, Lockheed Martin's Aeronautics segment's net sales jumped 12% to $6.05 billion on a y-o-y basis, driven by higher net sales of approximately $570 million for the F-35 program, primarily due to increased production volume; and about $150 million for the C-130 program due to increased aircraft deliveries. The Aeronautics segment's operating profit advanced 20% to $661 million in Q4 2017. The segment's operating profit increased approximately $75 million for the F-35 program, and about $15 million for the C-130 program.
For Q4 2017, Lockheed Martin's Missiles and Fire Control (MFC) segment's net sales surged 31% to $2.29 billion on a y-o-y basis, primarily attributable to higher net sales of air and missile defense programs; around $155 million for tactical missile programs due to increased deliveries and product configuration mix; and approximately $90 million for fire control programs due to increased deliveries. The MFC segment's operating profit advanced 16% to $296 million on a y-o-y basis in Q4 2017.
During Q4 2017, Lockheed Martin's Rotary and Mission Systems (RMS) segment reported net sales of $4.35 billion, up 14% compared to $3.81 billion in Q4 2016. The growth in the segment's sales was attributed to an increase of approximately $445 million in higher sales for Sikorsky helicopter programs primarily due to aircraft mix and increased deliveries; and an increase of about $65 million for training and logistics services programs due to higher volume. RMS segment's operating profit surged 31% to $299 million on a y-o-y basis in Q4 2017, driven by approximately $60 million for Sikorsky helicopter programs.
For Q4 2017, Lockheed Martin's Space segment's net sales totaled $2.45 billion, down 12% compared to $2.78 billion in Q4 2016. The drop in the segment's sales was primarily attributable to approximately $300 million for space transportation programs due to a reduction in launch-related events. The Space segment's operating profit fell 9% to $231 million on a y-o-y basis in the reported quarter.
Cash Deployment Activities
Lockheed Martin repurchased 1.6 million shares for $501 million, and 7.1 million shares for $2.0 billion during Q4 2017 and FY17, respectively. The Company paid cash dividends of $572 million and $2.2 billion during Q4 2017 and FY17, respectively.
Lockheed Martin's cash from operations was $1.5 billion in Q4 2017, up 8% compared to $729 million in Q4 2016. The Company's cash from operations was $6.5 billion in FY17 compared to $5.2 billion in FY16.
Outlook
For the full year FY18, Lockheed Martin is forecasting revenue to be in the range of $50.0 billion to $51.5 billion, while the Company is expecting earnings per share to be in the band of $15.20 to $15.50.
Stock Performance Snapshot
February 05, 2018 - At Monday's closing bell, Lockheed Martin's stock dropped 4.59%, ending the trading session at $336.46.
Volume traded for the day: 2.92 million shares, which was above the 3-month average volume of 1.12 million shares.
Stock performance in the last month - up 2.98%; previous three-month period - up 8.24%; past twelve-month period - up 32.23%; and year-to-date - up 4.80%
After yesterday's close, Lockheed Martin's market cap was at $97.77 billion.
Price to Earnings (P/E) ratio was at 51.15.
The stock has a dividend yield of 2.38%.
The stock is part of the Industrial Goods sector, categorized under the Aerospace/Defense Products & Services industry.
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