Lockheed Martin Corporation (NYSE: LMT) on Tuesday reported a sharp fall in earnings for the second quarter of fiscal 2025, hurt by pre-tax losses on programs and other charges. The aerospace company also reaffirmed its FY25 sales guidance.
The company reported net sales of $18.16 billion for the June quarter, which is broadly unchanged from the $18.12 billion sales it generated in the year-ago quarter. It returned $1.3 billion of cash to shareholders through dividends and share repurchases.
Net income declined sharply to $342 million or $1.46 per share in the second quarter from $1.64 billion or $6.85 per share in the corresponding quarter of 2024, impacted by pre-tax losses on programs and other charges.
The management reaffirmed its fiscal 2025 sales guidance in the range of $73.75 billion to $74.75 billion. It continues to expect full-year free cash flow to be between $6.60 billion and $6.68 billion.
“Over the course of the past few months, Lockheed Martin systems and platforms once again proved highly effective in combat operations and in deterring further aggression. Our F-35s, F-22s, PAC-3, THAAD, Aegis, and many others, crewed by the soldiers, airmen, sailors, marines, and guardians of the U.S. and its Allies, and supported by our own dedicated teammates, performed extremely well in the most crucial and challenging situations,” said Lockheed Martin’s CEO Jim Taiclet.
Prior Performance
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