Lockheed Martin Beats Earnings Estimates, Raises 2018 Forecast

(Reuters) – The Lockheed Martin Corp. F-35 jet demand. ( LMT.N ) once again helped the company beat the Wall Street forecast on Tuesday. of the year.

Pentagon's No.1 arms supplier has increased its 2018 net sales guidance to $ 51.60 billion, from $ 50.35 billion to $ 51.85 billion, to reach $ 53.10 billion dollars, which pushed stocks up 2.7% to $ 327.00 on Tuesday.

Annual earnings should be between $ 16.75 and $ 17.05 per share, compared to the previous estimate of $ 15.80 to $ 16.10 per share.

Revenues from the company's missile and firefighting operations, which make PAC-3 missiles, increased by 16.9 percent to $ 2.09 billion. The PAC-3 is the interceptor of the Patriot missile system. In late March, Poland signed its largest arms acquisition contract in its history, a Patriot missile defense system for $ 4.75 billion.

The aerospace business of the company, which manufactures the stealth fighter jet F-35, posts an 8.1% rise in its turnover to $ 5.32 billion .

The company's net income amounted to $ 1.16 billion, or $ 4.05 per share, in the second quarter ended June 24, compared with $ 955 million, or $ 3.28 per share, a year ago.

Net sales rose 6.6% to $ 13.40 billion.

Analysts expected adjusted earnings of $ 3.92 per share and $ 12.74 billion in business, according to Thomson Reuters I / B / E / S.

Quarterly Earnings included a $ 96 million charge related to the termination and restructuring activities, which reduced net income by $ 76 million, or $ 0.26 per share. "Although Lockheed broke the consensus for the quarter is not a new experience, doing it despite the 26-cent restructuring is an impressive performance," said badyst Robert Stallard of Vertical Research in a note on Tuesday. .

Until Monday's close, Lockheed's shares had risen 9.7% over the last 12 months, up from a 13.6% gain in the S & P 500 index. SPX.