Investing.com - Aerospace giant Lockheed Martin reported better-than-expected fourth quarter earnings on the back of upbeat revenue figures, it said ahead of Thursday’s opening bell.
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In its fourth quarter earnings report, Lockheed Martin said earnings per share came in at USD2.38, easily beating expectations for earnings of USD2.11 per share. The company’s fourth quarter revenue totaled USD11.53 billion, above forecasts for revenue of USD11.34 billion.
The aircraft maker boosted its full-year earnings outlook to a range in between USD10.25 to USD10.55 per share, compared to expectations for full-year earnings of USD10.29 per share.
Lockheed Martin sees 2014 full-year revenue in a range between USD44.0 billion to USD45.5 billion, versus expectations for annual revenue of USD44.24 billion.
"Our employees delivered exceptional performance for our customers in 2013 resulting in record backlog, earnings, and profit margin as well as strong cash generation," said Chairman, President, and CEO Marillyn Hewson.
The outlook for U.S. equity markets was lower. The Dow Jones Industrial Average futures indicated a loss of 0.4% at the open, S&P 500 futures pointed to a decline of 0.4%, while Nasdaq 100 futures indicated a loss of 0.1% at the open.