Lockheed Martin Corp reported a better-than-expected 47 percent jump in quarterl...
- Lockheed Martin Corp reported a better-than-expected 47 percent jump in quarterly profit on Tuesday and raised its annual profit forecast, helped by strong demand for its missiles and fighter jets, sending its shares up 5 percent.
Lockheed’s Missiles and Fire Control business, which makes missile defenses like the Terminal High Altitude Area Defense , was one of its best-performing units. Excluding that one-time gain, Lockheed reported $5.73 per share profit, well ahead of the $4.34 per share that Wall Street had expected, on average, according to IBES data from Refinitiv.
The F-35, a key program for Lockheed, suffered a setback earlier this month when a Japanese F-35 stealth fighter crashed in the Pacific Ocean close to northern Japan. The aircraft was less than a year old and was the first F-35 assembled in Japan.
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