Lockheed Martin reported strong Q2 2024 financial results with net sales of $18.1B, up 9% YoY, while net earnings were $1.6B or $6.85 per share. Free cash flow reached $1.5B, nearly doubling from $771M in Q2 2023. The company returned $1.6B to shareholders through dividends and share repurchases.Growth was driven by increased F-35 program volume in sustainment and development, F-16 production ramp-up, higher tactical missile production, and stronger performance in radar systems. The backlog remains robust at nearly $160B, supported by continued strong demand for defense technology solutions.Based on strong year-to-date performance, Lockheed Martin raised its 2024 outlook, increasing projections for sales to $70.5B-$71.5B, segment operating profit to $7.35B-$7.5B, and EPS to $26.10-$26.60. The company expects to deliver 75-110 F-35 aircraft in 2024, with the first Technology Refresh 3-configured aircraft recently delivered.

Lockheed Martin reported strong Q2 2024 financial results with net sales of $18.1B, up 9% YoY, while net earnings were $1.6B or $6.85 per share. Free cash flow reached $1.5B, nearly doubling from $771M in Q2 2023. The company returned $1.6B to shareholders through dividends and share repurchases.Growth was driven by increased F-35 program volume in sustainment and development, F-16 production ramp-up, higher tactical missile production, and stronger performance in radar systems. The backlog remains robust at nearly $160B, supported by continued strong demand for defense technology solutions.Based on strong year-to-date performance, Lockheed Martin raised its 2024 outlook, increasing projections for sales to $70.5B-$71.5B, segment operating profit to $7.35B-$7.5B, and EPS to $26.10-$26.60. The company expects to deliver 75-110 F-35 aircraft in 2024, with the first Technology Refresh 3-configured aircraft recently delivered.