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Lockheed Martin Corp LMT Stock Quote

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Lockheed Martin’s Long-Term Outlook Remains Intact Despite Near-Term Headwinds

Analyst Note

| Krzysztof Smalec, CFA |

Wide-moat-rated Lockheed Martin reported solid third-quarter results as the company continues to grapple with persistent supply chain headwinds and a tumultuous geopolitical environment. Sales of $16.6 billion modestly missed FactSet consensus, while adjusted EPS of $6.87 outpaced consensus by 3%. Management reaffirmed 2022 guidance amid strong domestic and international demand, with geopolitical turmoil stoking an increase in backlog. However, management acknowledged the slow abatement of supply constraints, leading to a flat 2023 sales guide. We have maintained our $447 fair value estimate as we believe our long-term thesis remains intact.

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Key Statistics LMT

Company Profile LMT

Business Description

Lockheed Martin is the largest defense contractor globally and has dominated the Western market for high-end fighter aircraft since the F-35 program was awarded in 2001. Lockheed’s largest segment is aeronautics, which is dominated by the massive F-35 program. Lockheed’s remaining segments are rotary and mission systems, which is mainly the Sikorsky helicopter business; missiles and fire control, which creates missiles and missile defense systems; and space systems, which produces satellites and receives equity income from the United Launch Alliance joint venture.

6801 Rockledge Drive
Bethesda, MD, 20817
T +1 301 897-6000
Industry Aerospace & Defense
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 114,000

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