Lockheed lowers earnings guidance

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

Net earnings of $763M, or $2.61 per share vs. $806M, or $2.61 per share, in the same quarter a year ago.

Sales by segment: Aeronautics +8%; Missiles and Fire Control +4%; Rotary and Missions Systems +3%; Space Systems +11%.

Cash from operations $1.7B; Capex $170M; Repurchased 1.9M shares; Paid cash dividends of $544M; Backlog of $93.5B at the end of the quarter.

Updated outlook for 2017: Diluted earnings per share of $12.15-$12.45 (vs. $12.25-$12.55), on net sales of $49.5B-$50.7B (vs. $49.4B-$50.6B).

LMT -3.5% premarket

Q1 results