Lockheed Martin Corporation (NYSE:LMT) released its earnings report for the three months ended June 30 this morning before the market opened. The company showed earnings of $2.64 per share for the three months period on revenue totaling $11.41 billion. Shares in Lockheed Martin Corporation (NYSE:LMT) closed at $115.65 on Monday afternoon.
In the same three months of 2012 Lockheed Martin Corporation (NYSE:LMT) earned $2.38 per share on revenues totaling $11.9 billion. In the run up to the announcement of this morning’s earnings report analysts were looking for earnings of $2.20 per share from the defense contractor on revenues of $11.13 billion.
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Lockheed Martin string of success
This morning’s earnings beat compounds the effect of the company’s beat in the first quarter of the 2013 fiscal year. The company has beaten analyst expectations in four out of the last five quarters on earnings, and has beaten expectations in all of the last five quarters on revenue. Things have been going quite well for investors in Lockheed Martin Corporation (NYSE:LMT).
Since the start of 2013 stock in Lockheed Martin Corporation (NYSE:LMT) has appreciated by more than 25 percent. At time of writing, the beat on this morning’s earnings had resulted in an increase of more than 1.5 percent in the firm’s stock price in pre-market trading this morning. 2013 has been good to investors in the company, and that trend seems likely to continue, at least for another day.
Lockheed Martin Corporation (NYSE:LMT) is a vital part of America’s military structure. The company is country’s largest defense contractor, and its products are vital to the ability of the United States to wage war. This led to the analyst belief that the company is almost impossible to remove from its position, and its earnings are relatively safe in the medium term.