The company said that of its $35.3 billion in net sales for the 6 months ended June 30, 2024, 74% came from the U.S. Government, 25% from international customers, including FMS, and 1% from U.S. commercial and other customers.

10-QQuarterly reportFiled Jul 23, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said that of its $35.3 billion in net sales for the 6 months ended June 30, 2024, 74% came from the U.S. Government, 25% from international customers, including FMS, and 1% from U.S. commercial and other customers.
Lockheed Martin said product sales for the quarter ended June 30, 2024 rose $1.4 billion (10%) from a year earlier. The company cited higher product sales at RMS of $665 million, at MFC of $330 million and at Aeronautics of $325 million as the main factors.
The company said net earnings for the quarter ended June 30, 2024 were $1.6 billion ($6.85 per share), and net earnings for the 6 months were $3.2 billion ($13.24 per share). It said the year-earlier figures were $1.7 billion ($6.63 per share) for the quarter and $3.4 billion ($13.24 per share) for the 6 months.
Lockheed Martin said net cash provided by operating activities for the 6 months ended June 30, 2024 rose $847 million from a year earlier, and free cash flow (operating cash flow less capital expenditures) rose $722 million. The company cited working capital improvements and the timing of federal tax payments as factors behind the higher operating cash flow.

Key figures

Quarter ended June 30, 2024

Revenue: $18.1B
Operating income: $2.1B
Net income: $1.6B
EPS: $6.85
Gross profit: $2.1B

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.

Customer Mix of Net Sales for the 6 Months

The company said that of its $35.3 billion in net sales for the 6 months ended June 30, 2024, 74% came from the U.S. Government, 25% from international customers, including FMS, and 1% from U.S. commercial and other customers.

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

Higher Quarterly Product Sales and Segment Drivers

Lockheed Martin said product sales for the quarter ended June 30, 2024 rose $1.4 billion (10%) from a year earlier. The company cited higher product sales at RMS of $665 million, at MFC of $330 million and at Aeronautics of $325 million as the main factors.

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

Quarterly Net Earnings and Earnings per Share

The company said net earnings for the quarter ended June 30, 2024 were $1.6 billion ($6.85 per share), and net earnings for the 6 months were $3.2 billion ($13.24 per share). It said the year-earlier figures were $1.7 billion ($6.63 per share) for the quarter and $3.4 billion ($13.24 per share) for the 6 months.

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

Higher Six-Month Operating and Free Cash Flow

Lockheed Martin said net cash provided by operating activities for the 6 months ended June 30, 2024 rose $847 million from a year earlier, and free cash flow (operating cash flow less capital expenditures) rose $722 million. The company cited working capital improvements and the timing of federal tax payments as factors behind the higher operating cash flow.

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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