Lockheed Martin Corp. Q1 Profit Decreases, but beats estimates

(RTTNews) - Lockheed Martin Corp. (LMT) announced a profit for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $1.55 billion, or $6.39 per share. This compares with $1.69 billion, or $6.61 per share, in last year's first quarter.

Excluding items, Lockheed Martin Corp. reported adjusted earnings of $1.53 billion or $6.33 per share for the period.

Analysts on average had expected the company to earn $5.81 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.7% to $17.20 billion from $15.13 billion last year.

Lockheed Martin Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $1.55 Bln. vs. $1.69 Bln. last year. -EPS (Q1): $6.39 vs. $6.61 last year. -Revenue (Q1): $17.20 Bln vs. $15.13 Bln last year.

-Guidance: Full year EPS guidance: $25.65 - $26.35 Full year revenue guidance: $68,500 -$70,000 Mln