Lockheed: Q4 Earnings Snapshot

BETHESDA, Md. (AP) _ Lockheed Martin Corp. (LMT) on Tuesday reported fourth-quarter profit of $1.91 billion.

On a per-share basis, the Bethesda, Maryland-based company said it had net income of $7.40. Earnings, adjusted for severance costs and non-recurring costs, came to $7.79 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $7.41 per share.

The aerospace and defense company posted revenue of $18.99 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $18.25 billion.

For the year, the company reported profit of $5.73 billion, or $21.66 per share. Revenue was reported as $65.98 billion.

Lockheed expects full-year earnings to be $26.60 to $26.90 per share, with revenue in the range of $65 billion to $66 billion.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LMT at https://www.zacks.com/ap/LMT