Lockheed Martin moves toward record high after Q2 beat, guidance boost

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

Lockheed Martin (NYSE:LMT) +0.9% premarket and poised to open at a record high after reporting better than expected Q2 earnings and raising its full-year outlook.

LMT now sees FY 2017 EPS of $12.30-$12.60 from earlier guidance of $12.15-$12.45, vs. $12.51 analyst consensus estimate, and revenues of $49.8B-$51B from $49.5B-$50.7B earlier and $50.2B analyst consensus.

Q2 revenues rose 9.6% Y/Y to $12.69B, also beating expectations, as a 19% rise in net sales in the aeronautics segment and a 9% jump in space systems' net sales offset a 3% decline in the missiles and fire control business.