Lockheed Martin Corporation reported Q2 2024 net sales of $18.1 billion, up 9% year-over-year, with net earnings of $1.6 billion. Diluted EPS increased 3% to $6.85. The company saw growth across all business segments, with Missiles and Fire Control leading at 13% sales growth.For the first half of 2024, net sales rose 11% to $35.3 billion, while net earnings declined 5% to $3.2 billion. Free cash flow improved significantly to $2.8 billion, up from $2.0 billion in H1 2023. The company maintained its full-year 2024 financial outlook.Lockheed Martin faced challenges in F-35 deliveries due to Technology Refresh 3 implementation, with no deliveries in H1 but expectations of 75-110 aircraft in H2. The company also recorded a $50 million trademark impairment charge related to its Sikorsky business following the cancellation of the U.S. Army's FARA program.

Lockheed Martin Corporation reported Q2 2024 net sales of $18.1 billion, up 9% year-over-year, with net earnings of $1.6 billion. Diluted EPS increased 3% to $6.85. The company saw growth across all business segments, with Missiles and Fire Control leading at 13% sales growth.For the first half of 2024, net sales rose 11% to $35.3 billion, while net earnings declined 5% to $3.2 billion. Free cash flow improved significantly to $2.8 billion, up from $2.0 billion in H1 2023. The company maintained its full-year 2024 financial outlook.Lockheed Martin faced challenges in F-35 deliveries due to Technology Refresh 3 implementation, with no deliveries in H1 but expectations of 75-110 aircraft in H2. The company also recorded a $50 million trademark impairment charge related to its Sikorsky business following the cancellation of the U.S. Army's FARA program.