Lockheed beats estimates, raises guidance

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

Net earnings of $1B, or $3.32 per share vs. $929M, or $2.94 per share, in the same quarter a year ago.

Sales by segment: Aeronautics +6%; Information Systems -5%; Missiles and Fire Control +2%; Mission Systems and Training +53%; Space Systems -3%.

Cash from operations $1.5B; Capex $235M; Repurchased 2.1M shares for $501M; Paid cash dividends of $501M.

"Our strong performance enabled us to increase our financial guidance... and positions the company to deliver more value to our customers and shareholders," CEO Marillyn Hewson declared.

Raised financial outlook for 2016: Diluted earnings per share of $12.15–$12.45 (from $11.50-$11.80), on net sales of $50B-$51.5B (from $49.6B-$51.1B).

LMT +1.5% premarket

Q2 results

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