Lockheed Martin Corp. Q3 Profit Increases, beats estimates

Lockheed Martin Corp. (LMT) announced earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $1.78 billion, or $6.71 per share. This compares with $614 million, or $2.21 per share, in last year's third quarter.

Excluding items, Lockheed Martin Corp. reported adjusted earnings of $1.82 billion or $6.87 per share for the period.

Analysts on average had expected the company to earn $6.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.4% to $16.58 billion from $16.03 billion last year.

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

-Earnings (Q3): $1.78 Bln. vs. $614 Mln. last year.
-EPS (Q3): $6.71 vs. $2.21 last year.
-Analyst Estimate: $6.67
-Revenue (Q3): $16.58 Bln vs. $16.03 Bln last year.

Full year EPS guidance: $21.55
Full year revenue guidance: $65.250 Bln

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