Lockheed Martin Reports Solid Q1 Results, Raises 2011 EPS Guidance

Lockheed Martin Reports Solid Q1 Results, Raises 2011 EPS Guidance



Apr 26, 2011

Lockheed Martin Corp (NYSE:LMT) reported Q1 EPS of $1.55, beating the consensus estimate for $1.51 per share. Revenues for the quarter increased 2.9% year-over-year to $10.63 billion, just above the consensus estimate for $10.58 billion.

Bob Stevens, Chairman and CEO commented: "We had a solid operating and financial start to 2011. We focused on executing on our programs while continuing to find affordable solutions, because we and our customers need to make every dollar count. In this new reality shaped by an increasingly complex global security environment and an uncertain economy, we remain committed to providing value to our customers while achieving strong financial results for our shareholders."

The company raised its 2011 EPS expectation to $7.25 - $6.95, from $6.70 - $7.00 previously, with the consensus estimate currently at $6.98 per share.