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Lockheed (LMT) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

Lockheed Martin (LMT) reported $17.2 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 13.7%. EPS of $6.33 for the same period compares to $6.43 a year ago.

The reported revenue represents a surprise of +6.21% over the Zacks Consensus Estimate of $16.19 billion. With the consensus EPS estimate being $5.80, the EPS surprise was +9.14%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Lockheed performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net sales- Aeronautics: $6.85 billion versus $6.61 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +9.2% change.

  • Net sales- Rotary and Mission Systems: $4.09 billion versus the five-analyst average estimate of $3.72 billion. The reported number represents a year-over-year change of +16.5%.

  • Net sales- Missiles and Fire Control: $2.99 billion versus the five-analyst average estimate of $2.66 billion. The reported number represents a year-over-year change of +25.3%.

  • Net sales- Space: $3.27 billion versus the five-analyst average estimate of $3.07 billion. The reported number represents a year-over-year change of +10.5%.

  • Operating Profit- Aeronautics: $679 million compared to the $647.44 million average estimate based on five analysts.

  • Operating Profit- Space: $325 million compared to the $276.38 million average estimate based on five analysts.

  • Operating Profit- Rotary and Mission Systems: $430 million versus $408.48 million estimated by five analysts on average.

  • Operating Profit- Missiles and Fire Control: $311 million compared to the $290.05 million average estimate based on five analysts.

View all Key Company Metrics for Lockheed here>>>

Shares of Lockheed have returned +3.4% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research