LOCKHEED MARTIN Reports Second Quarter FY2023 Earnings Results on July 18
July 21, 2023
🌥️Earnings Overview
On July 18, 2023, LOCKHEED MARTIN ($NYSE:LMT) reported a total revenue of USD 16693.0 million – an 8.1% year-over-year rise – and a net income of USD 1681.0 million for the second quarter of their fiscal year 2023 (ending June 30, 2023), which was a 445.0 million increase from the same period in the prior year.
Stock Price
On Tuesday, July 18, global security and aerospace company LOCKHEED MARTIN reported its second quarter earnings results for FY2023. The company opened the day at $474.4 and closed at $455.7, representing a 3.0% decrease from its previous closing price of 470.0. The company stated that it was encouraged by the strong performance in the second quarter and expected that it will continue to deliver positive growth throughout the fiscal year. Investors reacted positively to the news, with analysts predicting that the company will achieve further success in the upcoming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Lockheed Martin. More…
| Total Revenues | Net Income | Net Margin |
| 67.39k | 7.06k | 10.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Lockheed Martin. More…
| Operations | Investing | Financing |
| 7.72k | -1.8k | -4.03k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Lockheed Martin. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 56.98k | 47.74k | 36.81 |
Key Ratios Snapshot
Some of the financial key ratios for Lockheed Martin are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.3% | 1.3% | 13.4% |
| FCF Margin | ROE | ROA |
| 8.9% | 60.0% | 9.9% |
Analysis
At GoodWhale, we make it easy to analyze the fundamentals of LOCKHEED MARTIN. Our Risk Rating evaluates the financial and business aspects of a company and rates it as low risk for LOCKHEED MARTIN. However, our analysis has identified two risk warnings for LOCKHEED MARTIN in their income sheet and balance sheet. Sign up with us to learn more about the risks and how to mitigate them. 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 reported strong financial results for the second quarter of FY2023, with total revenue increasing 8.1% year-over-year and net income up 445.0 million from the same period last year. Despite this positive news, investors were not impressed and the stock price dropped on the same day. Analysts believe this short-term reaction was likely due to expectations of even better results. Analysts remain bullish on the company long-term, noting that the aerospace and defense giant’s consistently increasing revenue and strong financials are indications of a healthy market position.
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