Lockheed Martin EPS beats by $0.24, misses on revenue

• Lockheed Martin (NYSE:LMT): Q1 GAAP EPS of $6.56 beats by $0.24.
• Revenue of $16.3B (+4.2% Y/Y) misses by $40M.
• Generated cash from operations of $1.7B; Maintained backlog of ~$147B.
• Operating margin of 13.4% vs. a consensus of 13.5%.
• FY21 Guidance: Net sales of $67.3B-68.7B up from prior guidance of $67.1B-$68.5B vs. $68.19B consensus.
• EPS of $26.40-$26.70 up from prior guidance of $26-$26.30 vs. $25.96 consensus.
• Press Release