Lockheed Martin reported Q3 2024 net sales of $17.1B, up 1% YoY, with net earnings of $1.6B or $6.80 per share. Cash from operations was $2.4B and free cash flow $2.1B. The company returned $1.6B to shareholders through dividends and share repurchases.Performance was impacted by delays in F-35 Lots 18-19 contract authorization, affecting revenue recognition and cash flow. Despite challenges, Lockheed Martin increased its 2024 financial outlook, projecting sales of ~$71.25B and EPS of ~$26.65. The company also announced a 5% dividend increase to $3.30 per share.Segment highlights include Missiles and Fire Control's 8% sales growth and 15% profit increase, driven by tactical missile programs. Aeronautics saw a 3% sales decline due to F-35 delays, while Space and Rotary and Mission Systems had mixed results. The company's total backlog reached a record $165.7B, reflecting strong demand for its products and services.

Lockheed Martin reported Q3 2024 net sales of $17.1B, up 1% YoY, with net earnings of $1.6B or $6.80 per share. Cash from operations was $2.4B and free cash flow $2.1B. The company returned $1.6B to shareholders through dividends and share repurchases.Performance was impacted by delays in F-35 Lots 18-19 contract authorization, affecting revenue recognition and cash flow. Despite challenges, Lockheed Martin increased its 2024 financial outlook, projecting sales of ~$71.25B and EPS of ~$26.65. The company also announced a 5% dividend increase to $3.30 per share.Segment highlights include Missiles and Fire Control's 8% sales growth and 15% profit increase, driven by tactical missile programs. Aeronautics saw a 3% sales decline due to F-35 delays, while Space and Rotary and Mission Systems had mixed results. The company's total backlog reached a record $165.7B, reflecting strong demand for its products and services.