The fourth-quarter earnings season has officially begun.

Defense contractor Lockheed Martin (NYSE: LMT) was one of the first large stocks to report its earnings for the last three months of 2023, giving investors insights into the state of its business and the overall sector. Its shares have trailed the market in recent quarters, with the stock down 6% in the last 12 months, while stocks like the "Magnificent Seven" have soared.

Lockheed Martin's Q4 earnings brought more of the same. Even though the company posted analyst-beating earnings and revenue for 2023, the stock fell around 5% the day after it reported its results, which included disappointing financial guidance for 2024.

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Source Fool.com