Wall Street analysts expect Lockheed Martin (LMT) to post quarterly earnings of $6.32 per share in its upcoming report, which indicates a year-over-year decline of 7.6%. Revenues are expected to be $18.56 billion, up 8.5% from the year-ago quarter.
The consensus EPS estimate for the quarter has undergone an upward revision of 0.5% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific Lockheed metrics that are commonly monitored and projected by Wall Street analysts.
Analysts expect 'Net sales- Aeronautics' to come in at $6.98 billion. The estimate suggests a change of +7.6% year over year.
The combined assessment of analysts suggests that 'Net sales- Rotary and Mission Systems' will likely reach $4.74 billion. The estimate points to a change of +8.5% from the year-ago quarter.
The consensus among analysts is that 'Net sales- Missiles and Fire Control' will reach $3.54 billion. The estimate suggests a change of +11.6% year over year.
Analysts' assessment points toward 'Net sales- Space' reaching $3.24 billion. The estimate indicates a year-over-year change of +5.2%.
The consensus estimate for 'Operating Profit- Aeronautics' stands at $678.53 million. The estimate is in contrast to the year-ago figure of $659.00 million.
According to the collective judgment of analysts, 'Operating Profit- Space' should come in at $284.64 million. The estimate is in contrast to the year-ago figure of $272.00 million.
The collective assessment of analysts points to an estimated 'Operating Profit- Rotary and Mission Systems' of $474.11 million. Compared to the current estimate, the company reported $483.00 million in the same quarter of the previous year.
Analysts forecast 'Operating Profit- Missiles and Fire Control' to reach $518.24 million. The estimate compares to the year-ago value of $456.00 million.
View all Key Company Metrics for Lockheed here>>>
Lockheed shares have witnessed a change of +5.6% in the past month, in contrast to the Zacks S&P 500 composite's +0.9% move. With a Zacks Rank #3 (Hold), LMT is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Lockheed Martin Corporation (LMT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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