Business

April 25, 2018
 

Business Briefs

Lockheed Martin announces 1st quarter earnings

On April 24, Lockheed Martin reported first-quarter net income of $1.16 billion.
On a per-share basis, the Bethesda, Md.,-based company said it had net income of $4.02.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.35 per share.
The aerospace and defense company posted revenue of $11.64 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $11.3 billion.
Lockheed expects full-year earnings to be $15.80 to $16.10 per share, with revenue in the range of $50.35 billion to $51.85 billion.
Lockheed shares have increased 12 percent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has climbed 31 percent in the last 12 months. AP
 

Strong travel demand lifts Boeing in first quarter

Rising demand for travel is providing Boeing with a huge tail wind, pushing earnings and revenue beyond Wall Street expectations in the first quarter.
The aircraft maker also boosted its 2018 profit outlook and cited a strong backlog on orders. It expects to increase production of its 767’s over the next within the next two years.
“Our team’s strong first-quarter performance, combined with the positive market outlook across our businesses and our confidence in executing on our production and development programs, gives us a solid foundation to raise our guidance for the year,” said President and CEO Dennis Muilenburg.
Profit rose 57 percent to $2.48 billion, or $4.15 per share. Per-share earnings, adjusted for non-recurring gains, were $3.64, blowing past analyst projections for $2.59.
Revenue rose 6 percent to $23.38 billion with the Chicago company making 184 deliveries of commercial aircraft.
The company’s defense segment also gained ground, getting an initial contract from Kuwait for 28 F/A-18’s, among other international contracts.
Looking ahead, Boeing raised its projected 2018 per-share profit range to between $16.40 and $16.60 from $15.90 to $16.10. It still expects revenue between $96 billion and $98 billion.
Shares of Boeing rose 3 percent in premarket trading. AP
 

Northrop Grumman releases 1st quarter earnings report

Northrop Grumman on April 25 reported first-quarter earnings of $739 million.
On a per-share basis, the Falls Church, Va.,-based company said it had profit of $4.21.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.63 per share.
The defense contractor posted revenue of $6.74 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $6.58 billion.
Northrop Grumman expects full-year earnings to be $15.40 to $15.65 per share, with revenue expected to be $27 billion.
Northrop Grumman shares have risen 11 percent since the beginning of the year, while the Standard & Poor’s 500 index has declined 1.5 percent. The stock has increased 37 percent in the last 12 months. AP
 

General Dynamics releases first quarter results

General Dynamics Corp. April 25 reported first-quarter earnings of $799 million.
The Falls Church, Va.,-based company said it had net income of $2.65 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.47 per share.
The defense contractor posted revenue of $7.54 billion in the period, which met Street forecasts.
General Dynamics shares have climbed 9 percent since the beginning of the year, while the Standard & Poor’s 500 index has fallen 1.5 percent. The stock has risen 16 percent in the last 12 months. AP
 

United Technologies announces first quarter results

United Technologies Corp. on April 24 reported first-quarter earnings of $1.3 billion.
On a per-share basis, the Farmington, Conn.,-based company said it had net income of $1.62. Earnings, adjusted for non-recurring costs, came to $1.77 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.51 per share.
The maker of elevators, jet engines and other products posted revenue of $15.24 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $14.54 billion.
United Technologies expects full-year earnings in the range of $6.95 to $7.15 per share, with revenue in the range of $63 billion to $64.5 billion.
United Technologies shares have fallen 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has increased nearly 10 percent in the last 12 months. AP




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