Analyzing Lockheed Martin's Q1 Earnings: Underperformance in Missiles and Growth in Other Divisions
Lockheed's Q1 earnings
For Q1 2024, Lockheed earned $6.39 on sales of $17.2 billion. Sales increased nearly 14% year over year, but earnings declined a bit -- down about 3% year over year.
Strange performance in missiles
Lockheed's missiles and fire control division showed declining profits despite sales climbing 25%. The company is ramping up production, impacting profits.
Other divisions and space business
Aeronautics, space, and rotary units saw sales growth and profit improvements, except for aeronautics. Lockheed's space business contributed to revenue growth, with projects like NGI and ULA launches adding to profits.
Investment considerations
Lockheed's stock metrics indicate a high P/S ratio but a historical low P/E ratio, influencing investment decisions. Conservative investors might monitor profit margins for a potential buy signal.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.