Lockheed Martin Shares Climb on Strong Earnings
The aerospace and defense giant pointed to 'exceptional' operational results for its earnings beat.
Shares of Lockheed Martin (LMT) - Get Report surged on Tuesday after reporting second quarter results that beat wall street forecasts. Earnings of $3.32 a share topped Wall Street forecasts by $0.39 a share. Sales of $12.9 billion also topped consensus estimates by about $300 million. The beat was largely attributed to robust sales tied to Lockheed's F-35 Lightning fighter jets. Lockheed's CEO, Marillyn Hewson said 'exceptional operational and financial results' will help enable the aerospace and defense giant to boost its sales and earnings guidance thanks to healthy cash flow from operations. Lockheed shares are up more than 17 percent so far on the year.
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