Lockheed Martin Corp. Q2 Profit Decreases, misses estimates

Lockheed Martin Corp. (LMT) reported a profit for second quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $309 million, or $1.16 per share. This compares with $1.82 billion, or $6.52 per share, in last year's second quarter.

Excluding items, Lockheed Martin Corp. reported adjusted earnings of $1.69 billion or $6.32 per share for the period.

Analysts on average had expected the company to earn $6.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.3% to $15.45 billion from $17.03 billion last year.

Lockheed Martin Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $309 Mln. vs. $1.82 Bln. last year.
-EPS (Q2): $1.16 vs. $6.52 last year.
-Analyst Estimates: $6.39
-Revenue (Q2): $15.45 Bln vs. $17.03 Bln last year.

Full year EPS guidance: $21.55
Full year revenue guidance: $65,250 Mln

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