The company said March 31, 2024 net sales for the quarter totaled $17.2 billion, with 75% from the U.S. Government and 24% from international customers. Compared with the same period a year earlier, product sales rose $1.7 billion (13%) and service sales rose $399 million (15%).

10-QQuarterly reportFiled Apr 23, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said March 31, 2024 net sales for the quarter totaled $17.2 billion, with 75% from the U.S. Government and 24% from international customers. Compared with the same period a year earlier, product sales rose $1.7 billion (13%) and service sales rose $399 million (15%).
Lockheed Martin said net earnings for the quarter ended March 31, 2024 were $1.5 billion ($6.39 per share), compared with $1.7 billion ($6.61 per share) a year earlier. Weighted average common shares outstanding fell by about 14.1 million from the year-earlier period, and the company cited share repurchases as the main reason for the decrease.
The company said interest expense rose to $255 million from $202 million a year earlier, which it attributed mainly to the issuance of senior unsecured notes in January 2024 and May 2023. Non-service FAS pension income fell to $16 million from $110 million.
Lockheed Martin said it had cash and cash equivalents of $2.8 billion as of March 31, 2024, and during the quarter it repurchased 2.3 million shares for $1.0 billion and paid dividends of $780 million. The remaining share repurchase authorization is $9.0 billion.

Key figures

Quarter ended March 31, 2024

Revenue: $17.2B
Operating income: $2.0B
Net income: $1.5B
EPS: $6.39
Gross profit: $2.0B
Operating cash flow: $1.6B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Quarterly Sales Mix: Product and Service Sales Growth

The company said March 31, 2024 net sales for the quarter totaled $17.2 billion, with 75% from the U.S. Government and 24% from international customers. Compared with the same period a year earlier, product sales rose $1.7 billion (13%) and service sales rose $399 million (15%).

Source · Based on the MD&A text of the filing

Quarterly Net Earnings and Earnings per Share Change

Lockheed Martin said net earnings for the quarter ended March 31, 2024 were $1.5 billion ($6.39 per share), compared with $1.7 billion ($6.61 per share) a year earlier. Weighted average common shares outstanding fell by about 14.1 million from the year-earlier period, and the company cited share repurchases as the main reason for the decrease.

Source · Based on the MD&A text of the filing

Interest Expense and Non-Service FAS Pension Income Change

The company said interest expense rose to $255 million from $202 million a year earlier, which it attributed mainly to the issuance of senior unsecured notes in January 2024 and May 2023. Non-service FAS pension income fell to $16 million from $110 million.

Source · Based on the MD&A text of the filing

Liquidity and Shareholder Returns: Cash, Buybacks and Dividends

Lockheed Martin said it had cash and cash equivalents of $2.8 billion as of March 31, 2024, and during the quarter it repurchased 2.3 million shares for $1.0 billion and paid dividends of $780 million. The remaining share repurchase authorization is $9.0 billion.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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