Aerospace company, Lockheed Martin Corporation(LMT) reported declined profits on Thursday, missing analysts estimates.
The Bethesda, MD based company reported fourth quarter earnings of $569 million, or $1.73 per share, down 17% from $683 million, or $2.09 per share last year. Analysts expected to see EPS of $1.82.
Revenue for the quarter fell by 1% to $12.1 billion, from $12.21 billion last year. Analysts expected to see revenue of $11.16 billion.
For FY2012, the company reported earnings of $2.75 billion, or $8.36 per share, up from $2.67 billion, or $7.85 per share last year. Total revenue came in at $47.2 billion, up from $46.5 billion last year. Analysts expected 2012 earnings of $8.42 per share and $46.22 billion in revenue.
Looking ahead, LMT estimates that they will see earnings in the range of $8.80 to $9.10 for the FY2013. Revenue is expected to be in the range of $44.5 billion and $46 billion. Analysts expect to see earnings of $8.27 per share, and $45.25 billion in revenue.
Lockheed Martin shares were down -$1.43, or -1.49% during Thursday morning trading. The stock has increased 16% in the past year.
The Bottom Line
We have been recommending shares of Lockheed Martin (LMT) since Sept.3, 2011, when the stock was trading at $73.14. The company has a 4.79% dividend yield, based on last night’s closing stock price of $96.07.
Lockheed Martin Corporation(LMT) is a “Recommended” dividend stock at this time, holding a Dividend.com DARS™ Rating of 3.6 out of 5 stars.