NYSE$LMT
Lockheed Martin Corporation · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Lockheed Martin's Q1 2024 financial performance was reported, showing increased net sales and earnings per share.
Lockheed Martin reported a strong start to 2024 with net sales of $17.2 billion, a significant increase from the previous year. The company generated $1.3 billion in free cash flow and reaffirmed its 2024 financial outlook. The backlog reached $159 billion, including several large National Security Space awards.
- Net sales reached $17.2 billion, compared to $15.1 billion in the first quarter of 2023.
- Net earnings were $1.5 billion, or $6.39 per share.
- Cash from operations was $1.6 billion, and free cash flow was $1.3 billion.
- The company reaffirmed its 2024 financial outlook.
Headline financials
Revenue & EPS history
Lockheed Martin · Revenue · Quarterly
$17.2B
Revenue by segment
Lockheed Martin · $16.9B total across 4 segments · Q3 2023
- Aeronautics$6.72B-5.2%39.8%
- Rotary and Mission Systems$4.12B+9.0%24.4%
- Space$3.1B+7.6%18.4%
- Missiles and Fire Control$2.94B+3.8%17.4%
Forward guidance
Lockheed Martin reaffirms its 2024 financial outlook, expecting net sales between $68.5 billion and $70.0 billion and free cash flow between $6.0 billion and $6.3 billion.
Tailwinds
- Net sales are expected to be between $68.5 billion and $70.0 billion.
- Business segment operating profit is projected to be between $7.175 billion and $7.375 billion.
- Diluted earnings per share are expected to be between $25.65 and $26.35.
- Cash from operations is anticipated to be between $7.75 billion and $8.05 billion.
- Free cash flow is projected to be between $6.0 billion and $6.3 billion.
Headwinds
- The outlook includes known impacts from inflationary pressures.
- The outlook includes labor and supply chain challenges.
- The company's financial outlook reflects no significant reduction in customer budgets or changes in priorities.
- The company's financial outlook reflects continued support and funding of the company's programs.
- The company's financial outlook reflects a statutory tax rate of 21%.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-0.3%
Avg return
Earnings day
-1.1%
Avg return
5 days after
+0.1%
Avg return
30 days after
58%
42 / 73 earnings
Positive
+10.7%
Q3 2022
Best reaction
-12.1%
Q3 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.5% | -7.8% | -4.0% | |
| Q4 2025 | +4.3% | +5.2% | +10.2% | |
| Q3 2025 | -2.4% | -4.1% | -7.4% | |
| Q2 2025 | -10.9% | -8.5% | -2.9% | |
| Q1 2025 | +0.8% | +4.2% | +2.6% | |
| Q4 2024 | -9.2% | -8.1% | -11.4% | |
| Q3 2024 | -7.1% | -8.5% | -11.8% | |
| Q2 2024 | +0.7% | -0.2% | +1.9% | |
| Q1 2024 | -0.5% | -0.0% | +1.2% | |
| Q4 2023 | -5.9% | -6.3% | -6.5% | |
| Q3 2023 | +1.3% | +0.9% | +1.2% | |
| Q2 2023 | -3.9% | -3.2% | -5.0% | |
| Q1 2023 | +1.1% | -1.4% | -6.9% | |
| Q4 2022 | +2.9% | +4.2% | +8.6% | |
| Q3 2022 | +10.7% | +14.4% | +19.0% | |
| Q2 2022 | +2.1% | +1.9% | +13.4% | |
| Q1 2022 | -2.9% | -4.6% | -8.9% | |
| Q4 2021 | +4.8% | +5.3% | +6.0% | |
| Q3 2021 | -12.1% | -11.7% | -8.7% | |
| Q2 2021 | -1.6% | -2.4% | -5.8% | |
| Q1 2021 | -1.1% | -3.7% | -0.9% | |
| Q4 2020 | -3.2% | -6.3% | -0.5% | |
| Q3 2020 | -4.3% | -2.4% | -1.9% | |
| Q2 2020 | +7.8% | +5.7% | +6.1% | |
| Q1 2020 | -0.7% | -0.4% | -3.8% | |
| Q4 2019 | +0.3% | -1.0% | -11.1% | |
| Q3 2019 | -0.3% | -0.9% | +4.3% | |
| Q2 2019 | +3.2% | +3.3% | +7.9% | |
| Q1 2019 | +4.7% | +4.1% | +7.9% | |
| Q4 2018 | +1.3% | +0.9% | +7.5% | |
| Q3 2018 | -4.8% | -6.6% | -9.9% | |
| Q2 2018 | +1.9% | +1.8% | +0.5% | |
| Q1 2018 | -8.1% | -10.2% | -9.0% | |
| Q4 2017 | +1.6% | +2.2% | +2.2% | |
| Q3 2017 | -2.6% | -4.0% | -1.8% | |
| Q2 2017 | +0.8% | +0.2% | +4.5% | |
| Q1 2017 | -2.1% | -2.4% | +2.1% | |
| Q4 2016 | -2.5% | -1.5% | +2.9% | |
| Q3 2016 | +7.7% | +6.8% | +13.9% | |
| Q2 2016 | +0.1% | +0.4% | -0.3% | |
| Q1 2016 | +3.2% | — | — | |
| Q4 2015 | -1.5% | — | — | |
| Q3 2015 | +0.4% | — | — | |
| Q2 2015 | +1.0% | — | — | |
| Q1 2015 | +0.4% | — | — | |
| Q4 2014 | -3.3% | — | — | |
| Q3 2014 | +0.3% | — | — | |
| Q2 2014 | +3.1% | — | — | |
| Q1 2014 | +0.3% | — | — | |
| Q4 2013 | -5.7% | — | — | |
| Q3 2013 | +5.3% | — | — | |
| Q2 2013 | +3.0% | — | — | |
| Q1 2013 | +1.9% | — | — | |
| Q4 2012 | -3.8% | — | — | |
| Q3 2012 | +1.7% | — | — | |
| Q2 2012 | +0.9% | — | — | |
| Q1 2012 | +0.4% | — | — | |
| Q4 2011 | +2.2% | — | — | |
| Q3 2011 | -1.2% | — | — | |
| Q2 2011 | -6.8% | — | — | |
| Q1 2011 | -0.1% | — | — | |
| Q4 2010 | -1.3% | — | — | |
| Q3 2010 | +2.8% | — | — | |
| Q2 2010 | -0.1% | — | — | |
| Q1 2009 | +2.0% | — | — | |
| Q1 2010 | +0.7% | — | — | |
| Q4 2009 | +0.3% | — | — | |
| Q4 2007 | +0.3% | — | — | |
| Q3 2008 | -0.2% | — | — | |
| Q3 2009 | -0.2% | — | — | |
| Q2 2009 | +0.3% | — | — | |
| Q2 2008 | +0.3% | — | — | |
| Q4 2008 | +0.3% | — | — |
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