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

|About: Lockheed Martin (LMT)|By:, SA News Editor

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.