Lockheed Martin raises 2014 guidance, Q1 share buyback soars to $1.1B

Lockheed Martin (LMT) reports a 23% jump in Q1 earnings that beat analyst consensus estimates, and raises its EPS outlook for the full year by $0.25.

LMT forecasts FY 2014 EPS of $10.50-$10.80, higher than its January guidance and above expectations, and raises guidance for operating profit and operating cash flow, with the outlook for sales left unchanged at $41.5B-$43B.

LMT's repurchase of 7M shares for $1.1B in the quarter was just shy of its prior guidance for the whole year.

Higher pension income of $86M helped boost Q1 earnings, swinging from a $121M pension expense a year earlier.

Shares +0.3% premarket.

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Comments (4)
  • aardvark3
    , contributor
    Comments (687) | Send Message
    Love this stock!
    22 Apr 2014, 08:22 AM Reply Like
  • MintyFresh32
    , contributor
    Comments (412) | Send Message
    LMT has been a monster of a dividend growth stock lately. Great discussion here: http://bit.ly/1bjDMzb
    22 Apr 2014, 10:00 AM Reply Like
  • JohnBinTN
    , contributor
    Comments (4441) | Send Message
    Why is it down on a beat and good guidance?
    22 Apr 2014, 11:29 AM Reply Like
  • The Rebel
    , contributor
    Comments (2819) | Send Message
    Buy the rumor, sell the news.
    22 Apr 2014, 02:38 PM Reply Like
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