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Lockheed Martin Raises 2019 Outlook On Strong Q1 Results; Shares Up 4%

Lockheed Martin Corp. (LMT) announced, for 2019, the company now expects: earnings per share in a range of $20.05 - $20.35 updated from prior guidance range of $19.15 - $19.45; and net sales in a range of $56.75 billion - $58.25 billion, revised from prior guidance range of $55.75 billion - $57.25 billion. Analysts polled by Thomson Reuters expect the company to report profit per share of $19.58 on revenue of $56.81 billion. Analysts' estimates typically exclude special items.

For the first-quarter, net earnings were $1.7 billion, or $5.99 per share, compared to $1.2 billion, or $4.02 per share, a year ago. On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $4.34 for the quarter.

For the first quarter, net sales were $14.3 billion, compared to $11.6 billion, prior year. Analysts expected revenue of $12.52 billion for the quarter.

Shares of Lockheed Martin were up more than 4% in pre-market trade on Tuesday.

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