Lockheed Martin beats by $0.04, beats on revs; sees FY15 at high end of range; sees FY16 sales comparable to FY15, below estimates
- Reports Q3 (Sep) earnings of $2.76 per share, $0.04 better than the Capital IQ Consensus of $2.72; revenues rose 3.1% year/year to $11.46 bln vs the $11.12 bln Capital IQ Consensus.
- Co issues guidance for FY15, sees EPS of ~$11.30 from $11.00-11.30 vs. $11.36 Capital IQ Consensus; sees FY15 revs of ~$45 bln from $13.5-45.0 bln vs. $44.82 bln Capital IQ Consensus.
- Co issues downside guidance for FY16, sees FY16 revs of comparable with 2015 vs. $46.57 bln Capital IQ Consensus, total business segment operating margin will be in the 11.0 percent to 11.5 percent range. The Corporation also expects its 2016 cash from operations will be comparable with 2015. The Corporation's preliminary outlook for 2016 does not reflect any impacts from the ongoing strategic review or its pending acquisition of Sikorsky. The Corporation's outlook for 2016 will be updated at the conclusion of its strategic review, and when the acquisition of Sikorsky closes.