Lockheed Martin Shares Drop 7% As Q4 Sales Miss View

(RTTNews) - Lockheed Martin Corporation (LMT) saw a decline in its stock price, with shares sliding by 7.93 percent during Tuesday afternoon trading, following the announcement of its fourth-quarter earnings report.

LMT is currently trading $465.58 down 7.57 percent or $38.11 on the New York Stock Exchange. In premarket trading on Tuesday, Lockheed Martin's shares dropped more than 3%, continuing the downward trend from the prior day.

The stock's trading range for the day was between $459.09 and $479.73. In the past year, Lockheed Martin's stock has ranged from $413.92 to $618.95 with the trading volume reaching 2.11 million shares, well above the average of 1.23 million, showing heightened investor activity amid the stock's decline.

Despite beating earnings expectations, Lockheed Martin reported earnings per share of $7.67 for the fourth quarter, exceeding analyst estimates of $6.58. However, the company's quarterly revenue amounted to $18.6 billion, which fell slightly below the expected $18.84 billion.

In addition to the revenue shortfall, Lockheed Martin's profit forecast for the fiscal year 2025 also came in lower than anticipated, further dampening investor confidence.