Lockheed Martin beats by $0.06, reports revs in-line; reaffirms FY23 EPS guidance, revs guidance (440.41)
- Reports Q3 (Sep) earnings of $6.73 per share, $0.06 better than the FactSet Consensus of $6.67; revenues rose 1.8% year/year to $16.88 bln vs the $16.73 bln FactSet Consensus.
- Co reaffirms guidance for FY23, sees EPS of ~$27.00-27.20 vs. $27.16 FactSet Consensus; sees FY23 revs of ~66.25-66.75 bln vs. $66.68 bln FactSet Consensus.
- As previously announced on October 6, 2023, the company's board authorized the repurchase of its common stock up to an additional $6.0 billion, increasing the total authorization for potential future common stock repurchases to $13.0 billion. The stock repurchase program does not have an expiration date and may be amended or terminated by the board of directors at any time. The amount of shares ultimately purchased and the timing of purchases are at the discretion of management and subject to compliance with applicable law and regulation.
- On October 6, 2023, the company authorized a fourth quarter dividend payment of $3.15 per share, representing an increase of $0.15 per share over the prior quarterly dividend payment.