Lockheed Martin Corp. (NYSE:LMT) is expected to report Q2 earnings on Tuesday, July 24 before the market open with a conference call scheduled for 11:00 am ET.
Analysts are looking for EPS of $1.91 on revenue of $11.29B. The consensus range is $1.82-$2.00 for EPS, and $11.08B-$11.55B for revenue, according to First Call. Lockheed reported positive Q1 results, beating EPS and revenue estimates. On its Q1 earnings report, the company raised FY12 segment operating net view to $5.075B-$5.175B from $5.025B-$5.125B. It also reaffirmed FY12 cash from operations of about $3.8B. Management said its focus in FY12 would be on reducing costs and improving program execution. Sentiment on the Street has been mixed over the past three months. Since Q1 results were released, the shares advanced to fresh 52-week highs of $92.24 then abruptly sold off approximately 15%. They have since rebounded about 9% over the past two months. Potentially large defense cuts for FY12 and beyond will likely influence the near-term direction of the shares.