How Lockheed Martin Crushed Its Q1 Earnings Report
Lockheed Martin (NYSE: LMT) reported big earnings beats on both the top and bottom lines in its earnings report last week -- not that you would guess it from the stock price. The company beat sales predictions by 7.5% and earnings estimates by 10%, yet Lockheed stock ended the week below where it began.
Is that fair?
For Q1 2024, Lockheed earned $6.39 on sales of $17.2 billion. Sales increased nearly 14% year over year, but earnings declined a bit -- down about 3% year over year. Free cash flow came in even lower than reported earnings. That's the opposite of what you'd expect to happen, so to an extent it actually was fair for investors to not bid up Lockheed stock despite the company beating expectations.
Source Fool.com
