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Lockheed Martin Slashes FY22 Outlook - Update

While reporting financial results for the second quarter on Tuesday, Lockheed Martin Corp. (LMT) slashed its earnings and net sales guidance for the full-year 2022.

For fiscal 2022, the company now projects earnings of about $21.55 per share on net sales of about $65.25 billion. Previously, the company expected earnings of about $26.70 per share on net sales of about $66.00 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $26.85 per share on net sales of $65.98 billion for the year. Analysts' estimates typically exclude special items.

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