Is Lockheed Martin Stock a Buy?
Lockheed Martin (NYSE: LMT) stock dropped after the defense company's recent results, but is that creating a buying opportunity? After all, the company is involved in multiyear programs with highly reliable customers in an environment of heightened geopolitical tensions. Let's look at the results so you can make an informed decision about the matter.
The earnings report was not good. I want to highlight three specific points, the first being seen in the table below. While sales growth is in the kind of low single-digit growth you might expect from the defense industry, the company's declining profit margin results in a decline in its segment profit.
For reference, segment operating profit doesn't include unallocated income and expenses. Still, even when including these figures (consolidated operating profit), management expects profit to decline from $8.5 billion in 2023 to a range of $8.155 billion to $8.355 billion in 2024.
Source Fool.com
