Lockheed Martin Delivered Solid Earnings, But Whiffed on the 1 Number That Mattered
Lockheed Martin (NYSE: LMT) exceeded expectations in the third quarter, yet the stock still sold off by more than 2% on the news.
It's an election year, and defense investors are bracing for the worst in terms of future budgeting trends. Lockheed Martin's report only reinforced those concerns, causing the stock to sell-off. For patient, long-term investors, that fear has created an opportunity.
Lockheed Martin earned $6.25 per share in the third quarter on revenue of $16.5 billion, topping analyst expectations of $6.09 per share in earnings on sales of $16.1 billion. The company reported strength across its portfolio, with missile sales up 14%, aeronautics and helicopters both up 8%, and space up 6%.
Source Fool.com
