LOCKHEED MARTIN Reports Record-Breaking Earnings Results for Q2 of 2023

🌥️Earnings Overview

On July 18, 2023, LOCKHEED MARTIN ($NYSE:LMT) announced their earnings results for Q2 of Fiscal Year 2023, showing a year-over-year increase in total revenue of 8.1%, amounting to USD 16693.0 million. Their reported net income was USD 1681.0 million, a significant increase from the 309.0 million reported in the same quarter of the prior year.

Share Price

On Tuesday, LOCKHEED MARTIN reported its earnings results for the second quarter of 2023. Despite these impressive results, the markets reacted negatively, with LOCKHEED MARTIN stock opening at $474.4 and closing at $455.7, down by 3.0% from its prior closing price of $470.0. Investors may have been concerned about the company’s outlook for the rest of the year, given the uncertain economic environment caused by the pandemic. Nonetheless, these results demonstrate LOCKHEED MARTIN’s impressive ability to deliver strong results despite challenging conditions. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Lockheed Martin. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Lockheed Martin. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Lockheed Martin. More…

Key Ratios Snapshot

Some of the financial key ratios for Lockheed Martin are shown below. More…

Analysis

At GoodWhale, we recently conducted an analysis of LOCKHEED MARTIN‘s fundamentals. However, from our analysis of their income sheet and balance sheet, we have detected two risk warnings. To access more detailed information, please register on our website at goodwhale.com. We believe that by having access to this information, you will be able to make a more informed decision about whether or not to invest in LOCKHEED MARTIN. Thank you for your interest in GoodWhale and we hope you have a successful investment journey. More…

Peers

The U.S. Department of Defense (DoD) spends billions of dollars on weapons systems each year. Major weapons systems contractors compete for these funds. The competition among these companies is fierce. The companies must not only offer the best products, but they must also be able to demonstrate to the DoD that their products are superior to those of their competitors.

Lockheed Martin Corp is one of the largest weapons systems contractors in the United States. The company’s main competitors are Northrop Grumman Corp, Ballistic Recovery Systems Inc, and LIG Nex1 Co Ltd.

– Northrop Grumman Corp ($NYSE:NOC)

Northrop Grumman Corp is an American aerospace and defense technology company with a market cap of 78.41B as of 2022. The company has a Return on Equity of 34.54%. Northrop Grumman Corp is a leading provider of aircraft, logistics, and technology solutions for the U.S. military, government, and commercial customers. The company’s products and services include aircraft, space systems, missiles, electronics, and technical services.

– Ballistic Recovery Systems Inc ($OTCPK:BRSI)

Ballistic Recovery Systems Inc is a world leader in the design, manufacture, and deployment of parachutes and other soft goods for the aerospace industry. The company has a market cap of 4.19M as of 2022 and a ROE of -159.06%. Ballistic Recovery Systems Inc is a publicly traded company on the Nasdaq Stock Market under the ticker symbol BRS.

– LIG Nex1 Co Ltd ($KOSE:079550)

LIG Nex1 Co Ltd is a South Korean defense company specializing in electronics and weaponry. It was founded in 1999 and is headquartered in Seoul. The company has a market cap of 1.87T as of 2022 and a Return on Equity of 14.92%. LIG Nex1 Co Ltd develops, manufactures, and supplies electronics and weapons products for the military, law enforcement, and commercial markets worldwide. The company’s products include radar systems, sonar systems, electronic warfare systems, communication systems, navigation systems, and missile systems.

Summary

Lockheed Martin‘s second quarter of Fiscal Year 2023 saw an 8.1% year-over-year increase in total revenue, reaching USD 16693 million, and a net income of USD 1681 million compared to 309 million in the prior year. Despite this success, the stock price dropped on the same day. Investors should consider the company’s strong financial performance, as well as potential external factors that impacted the stock price, when making decisions about investing in Lockheed Martin. With a positive outlook for their Q2 results, investors may find Lockheed Martin an attractive investment opportunity.