Lockheed Martin beats by $0.18 ex-severance charges, beats on revs; raises FY16 guidance slightly, in-line
- Reports Q1 (Mar) earnings of $2.79 per share, excluding $0.21 in charges for workforce reductions at the Corporation's Aeronautics and Information Systems & Global Solutions (IS&GS) business segments, $0.18 better than the Capital IQ Consensus of $2.61; revenues rose 15.7% year/year to $11.7 bln vs the $11.38 bln Capital IQ Consensus.
- Co issues in-line guidance for FY16, raises EPS to $11.50-11.80 from $11.45-11.75 vs. $11.77 Capital IQ Consensus; raises FY16 revs to $49.6-51.1 bln from $49.5-51.0 bln vs. $50.35 bln Capital IQ Consensus; operating profit to $5.625-5.775 bln from $5.6-5.75 bln.