Lockheed Martin reported Q3 2024 net sales of $17.1B, up 1% YoY, while net earnings decreased to $1.6B ($6.80 per share) from $1.7B ($6.73 per share) in Q3 2023. The company generated $2.4B in operating cash flow and $2.1B in free cash flow. The board approved a 5% increase in quarterly dividend to $3.30 per share and authorized an additional $3.0B for share repurchases.Performance was driven by 8% growth in Missiles and Fire Control and 6% growth in Rotary and Mission Systems, offset by a 3% decline in Aeronautics due to F-35 production delays. The company's backlog reached a record $165B, with 48 F-35 deliveries completed in the quarter. However, F-35 Lots 18-19 contract negotiations impacted about $400M in revenue recognition.Based on strong year-to-date performance, Lockheed Martin raised its 2024 outlook, projecting net sales of approximately $71.25B and diluted EPS of about $26.65. The company returned $1.6B to shareholders through dividends and share repurchases in Q3, demonstrating confidence in its 21st Century Security strategy and financial objectives.

Lockheed Martin reported Q3 2024 net sales of $17.1B, up 1% YoY, while net earnings decreased to $1.6B ($6.80 per share) from $1.7B ($6.73 per share) in Q3 2023. The company generated $2.4B in operating cash flow and $2.1B in free cash flow. The board approved a 5% increase in quarterly dividend to $3.30 per share and authorized an additional $3.0B for share repurchases.Performance was driven by 8% growth in Missiles and Fire Control and 6% growth in Rotary and Mission Systems, offset by a 3% decline in Aeronautics due to F-35 production delays. The company's backlog reached a record $165B, with 48 F-35 deliveries completed in the quarter. However, F-35 Lots 18-19 contract negotiations impacted about $400M in revenue recognition.Based on strong year-to-date performance, Lockheed Martin raised its 2024 outlook, projecting net sales of approximately $71.25B and diluted EPS of about $26.65. The company returned $1.6B to shareholders through dividends and share repurchases in Q3, demonstrating confidence in its 21st Century Security strategy and financial objectives.