Lockheed Martin beats by $0.27, beats on revs; guides FY18 EPS above consensus, revs in-line (344.90)
- Reports Q4 (Dec) earnings of $4.30 per share, excluding non-recurring items, $0.27 better than the Capital IQ Consensus of $4.03; revenues rose 10.1% year/year to $15.14 bln vs the $14.72 bln Capital IQ Consensus.
- Backlog of approximately $100 billion at the end of 2017
- The corporation expects the net 2018 FAS/CAS pension benefit to be approximately $1.0 billion assuming a 3.625 percent discount rate (a 50 basis point decrease from the end of 2016), an approximately 13.00 percent return on plan assets in 2017 (a 550 basis point increase from the expected rate of return at the end of 2016), a 7.50 percent expected long-term rate of return on plan assets in future years, and the revised longevity assumptions released during the fourth quarter of 2017 by the Society of Actuaries.
- Co issues guidance for FY18, sees EPS of $15.20-15.50, excluding non-recurring items, vs. $14.07 Capital IQ Consensus Estimate; sees FY18 revs of $50-51.5 bln vs. $51.18 bln Capital IQ Consensus Estimate.