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Lockheed Martin Q2 earnings preview: everything you need to know

Revenue and earnings upgrades in the first quarter have seen Lockheed Martin’s stock deliver investors market-beating returns year-to-date.

Lockheed Martin NYSE Source: Bloomberg

When is Lockheed Martin’s Q2 results date?

Lockheed Martin Corp, the $103 billion aerospace, security and defence company is expected to report its second quarter results on July 23, at 11:00AM EDT.

The company has moved from strength to strength in the past year, with Lockheed Martin’s President and CEO, Marillyn Hewson just recently announcing plans to expand the company’s workforce by 18,000 people this year.

Year-to-date, Lockheed Martin’s share price is up 39%.

Momentum strong across all business segments

The first quarter was a standout for Lockheed Martin Corp, with all four of its business segments: aeronautics, rotary and mission systems, missiles and fire control, and space – witnessing double-digit revenue and operating profit growth.

All up, the company’s first quarter sales hit $14.3 billion, up from $11.6 billion year-over-year.

Cash from operations also saw a significant increase year-over-year, hitting $1.7 billion in Q1 – up from $632 million the period prior.

Building on these impressive first quarter results, the company increased its full year financial guidance across sales, profit, and cash. Specifically, the company increased its revenue outlook by $1 billion and its operating profit outlook by $100 million.

Given these upgraded outlooks, investors will be keen to see strong Q2 results across these metrics.

CEO looks long-term

Lockheed Martin’s President and CEO, Marillyn Hweson pointed out that the company’s 'differentiated portfolio and record backlog position us well for continued growth, and we remain focused on delivering innovative technologies and solutions for our customers, and long-term value creation for stockholders.'

Even with these positive comments and equally positive Q1 financial results, the outlook for the stock remains mixed. For example, according to the Wall Street Journal, of the 19 analysts covering the stock, 11 rate it as a buy, while eight rate it as a hold.

In saying that, just last week, banking giant UBS upgraded its price target on Lockheed Martin Corp's stock from $385 per share to $420 per share – a positive sign ahead of the company’s Q2 earnings release.

Dividend outlook remains good

Finally, adding to the increased outlook across the company’s four main business segments, Lockheed Martin’s management noted that they are tracking well to meet their full year cash deployment goals.

The company’s quarterly dividend, which saw $638 million returned to investors during the first quarter, is likely to be a continued focus for investors chasing income in Q2 and beyond.

Lockheed Martin is expected to pay its next dividend on September 27.

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