Lockheed Martin beats by $0.05, misses on revs; guides FY14 ~in-line; FY15 sales above estimates
Reports Q3 (Sep) earnings of $2.76 per share, $0.05 better than the Capital IQ Consensus Estimate of $2.71; revenues fell 2.1% year/year to $11.11 bln vs the $11.27 bln consensus.
Co issues in-line guidance for FY14, raises EPS to ~$11.15 from $10.85-11.15 vs. $11.12 Capital IQ Consensus; sees FY14 revs of ~$45 bln from $44-45.5 bln vs. $44.82 bln Capital IQ Consensus.
The Corporation expects 2015 net sales will decline at a low single digit rate from 2014 levels (consensus at $44.5 bln) and that total business segment operating margin will be in the 11.5 percent to 12.0 percent range. The Corporation's preliminary outlook for 2015 assumes the U.S. Government continues to support and fund its key programs, consistent with the continuing resolution funding measure through Dec. 11, 2014, and the U.S. Government approves budget legislation for government fiscal year (GFY) 2015 consistent with the President's proposed budget.
Co issues in-line guidance for FY14, raises EPS to ~$11.15 from $10.85-11.15 vs. $11.12 Capital IQ Consensus; sees FY14 revs of ~$45 bln from $44-45.5 bln vs. $44.82 bln Capital IQ Consensus.
The Corporation expects 2015 net sales will decline at a low single digit rate from 2014 levels (consensus at $44.5 bln) and that total business segment operating margin will be in the 11.5 percent to 12.0 percent range. The Corporation's preliminary outlook for 2015 assumes the U.S. Government continues to support and fund its key programs, consistent with the continuing resolution funding measure through Dec. 11, 2014, and the U.S. Government approves budget legislation for government fiscal year (GFY) 2015 consistent with the President's proposed budget.