Security and aerospace company Lockheed Martin Corp. (LMT), while reporting weak earnings and higher net sales in its fourth quarter, issued forecast for fiscal 2023, expecting earnings below market estimates.<\/p>\n
For 2023, the company expects earnings per share between around $26.60 and $26.90. On average, 23 analysts polled by Thomson Reuters expect earnings of $26.93 per share for the year. Analysts’ estimates typically exclude special items. <\/p>\n
Adjusted business<\/span> segment operating profit is expected between around $7.26 billion and $7.36 billion.<\/p>\n Net sales for the year are expected to be around $65 billion to $66 billion. Analysts expect sales of $65.74 billion for the year.<\/p>\n In fiscal 2022, net earnings were $5.7 billion or $21.66 per share on net sales of $65.98 billion.<\/p>\n In the fourth quarter, net earnings came in at $1.91 billion or $7.40 per share, down from $2.05 billion or $7.47 per share in last year’s fourth quarter.<\/p>\n Adjusted earnings were $2.01 billion or $7.79 per share for the period, compared to last year’s $1.98 billion or $7.22 per share.<\/p>\n Analysts expected the company to earn $7.39 per share for the quarter.<\/p>\n The company’s net sales for the quarter rose 7.1 percent to $18.99 billion from $17.73 billion last year. Analysts expected sales of $18.27 billion for the quarter.<\/p>\n In pre-market activity on the NYSE, Lockheed Martin shares were gaining around 1.2 percent to trade at $446.69.<\/p>\n For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com. <\/p>\n