The Johnson & Johnson 2Q 2017 Lockheed Martin 2Q 2017 earnings releases are expected tomorrow before opening bell. Johnson & Johnson is looking to make things right after missing revenue estimates in the first quarter, and Lockheed Martin is facing uncertainty despite the slight increase in the U.S. defense budget. Here’s what to expect when these two bellwethers report their second-quarter results tomorrow before opening bell.

Johnson & Johnson 2Q 2017 earnings

Johnson & Johnson 2Q 2017
By Kityvankova (Own work) [Public domain], via Wikimedia Commons
The Johnson & Johnson 2Q 2017 earnings report is expected to show earnings of $1.79 per share on $18.95 billion in sales. In last year’s second quarter, the consumer products and drug-making firm posted $1.74 per share in earnings on $18.48 billion in sales.

Johnson & Johnson has a strong track record of beating earnings estimates, having done so in every quarter for the last five years. However, its track record on sales is shakier, as it missed estimates in the last two quarters, although it beat Wall Street in the second and third quarters of last year.

The market for drugs has been rather challenging for the last few quarters, which has weighed on the company’s earnings results. Analysts expect that this again played a role in the second quarter. However, Johnson & Johnson has some changes in its drug pipeline to help it going forward, including positive drug trial results to expand the label for its drug Invokana. Positive results in the trials for its cancer drug Darzalex in the treatment of multiple myeloma are also expected.

Ahead of the Johnson & Johnson 2Q 2017 earnings release, the company’s stock ticked lower by as much as 0.55% to $131.91 during regular trading hours on Monday.

Lockheed Martin 2Q 2017 earnings

Lockheed Martin 2Q 2017
WikiImages / Pixabay

In the Lockheed Martin 2Q 2017 earnings report, analysts are looking for $3.10 per share in earnings on $12.5 billion in revenue. In last year’s second quarter, the company posted $3.32 per share in earnings on $12.9 billion in sales.

In May, the U.S. announced a slight increase in the nation’s defense budget for fiscal 2018, which boosted Lockheed Martin shares a bit. The defense contractor also received a lift after the U.S. signed a defense agreement with Saudi Arabia.

The company’s stock rise by as much as 0.38% to $289.30 during regular trading hours on Monday ahead of the Lockheed Martin 2Q 2017 earnings release Tuesday morning.