Lockheed Martin Tops Estimates, Reiterates 2024 Outlook (1)

Lockheed Martin Corp.’s first-quarter operating income beat expectations as it delivered more fighter jets and missile systems.

The defense company’s consolidated operating profit was little changed at $2 billion from a year earlier, according to its earnings release, exceeding the average analyst estimate of $1.91 billion. Earnings per share of $6.33 also topped the $5.78 consensus.

“We feel we’re set up pretty well to deliver the guidance not just in sales, but really all the metrics,” Chief Financial Officer Jay Malave said in an interview with Bloomberg Television.

All four business units increased sales in the quarter, boosting ...