Before the opening bell on Tuesday morning, Lockheed Martin (LMT ) reported its fourth quarter results, posting strong gains in revenues and earnings compared to last year’s Q4.
LMT's Earnings in Brief
- Lockheed Martin reported fourth quarter revenues of $12.5 billion, up from last year’s Q4 revenues of $11.5 billion.
- Net earnings from continuing operations for the quarter came in at $904 million, or $2.82 per share, which is nearly double last year’s results of $488 million, or $1.50 per share.
- LMT missed analysts’ estimates of $2.85 EPS, but revenues came in above the $11.89 billion expectation.
LMT chairman, president and CEO Marillyn Hewson had the following comments: “We delivered outstanding performance in the fourth quarter, which enabled us to end 2014 with sales growth and a backlog of nearly $81 billion, while also returning more than $3.7 billion to our shareholders. Our performance was the result of solid program execution by our team, strong international business growth and a continued focus on the affordability of our products and operations.”
Lockheed Martin paid its most recent quarterly dividend of $1.50 on December 26, 2014. We expect the company to declare its next quarterly dividend in the coming days.
Lockheed Martin stock was inactive during pre-market trading. YTD, the stock is up 1.61%.