Lockheed Martin beats estimates; raises full-year outlook

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

Lockheed Martin (LMT +2.1%) announced an increase of Q2 2014 net earnings of $889M, up from $859M Y/Y.

Net sales fell slightly to $11.3B from $11.4B in the second quarter of 2013.

Cash from operations increased in Q2 to $977M, compared to $623M Y/Y.

Lockheed's CEO also announced a new outlook reflecting the company's excellent performance:

"Based on our solid program execution and operational performance through the first half of the year, we increased our 2014 financial guidance for profit, earnings, and cash flow," says CEO Marillyn Hewson. "Our sound strategy, diverse portfolio and focus on affordability are yielding results and delivering value to our customers and shareholders."

The company raised the financial outlook for its FAS/CAS pension income and cash from operations by $100M, and increased its full-year earnings outlook to a range of $10.85 to $11.15 per share - compared to the previous $10.96 per share.

Q2 earnings