Johnson & Johnson and Lockheed Martin released their latest quarterly earnings reports before opening bell this morning. Johnson & Johnson posted adjusted earnings of $1.74 per share on revenue of $18.48 billion. Analysts had been expecting adjusted earnings of $1.68 per share on $17.98 billion. In last year’s second quarter, the company posted adjusted earnings of $1.71 per share on $17.8 billion in revenue.
Lockheed Martin reported earnings of $3.32 per share and revenue of $12.9 billion, compared to Wall Street’s estimates of $2.94 per share and $12.6 billion. In last year’s second quarter, the defense contractor posted earnings of $2.94 per share on $11.6 billion in revenue.
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Johnson & Johnson shares rise after outlook raised
Johnson & Johnson’s GAAP earnings fell to $1.43 per share from $1.61 per share last year. Worldwide Consumer sales declined 1.8% year over year to $3.4 billion, while Worldwide Pharmaceutical sales increased 8.9% to $8.7 billion. Worldwide Medical Devices sales increased 0.8% to $6.4 billion.
Johnson & Johnson increased its full-year earnings outlook from between $6.43 to $6.58 per share to a range of $6.63 to $6.73 per share. The company also increased its full-year revenue guide from between $70.8 billion and $71.5 billion to between $71.5 billion and $72.2 billion.
Shares of Johnson & Johnson rose by as much as 2.78% to $126.56 in premarket trading this morning.
Lockheed Martin also raises guidance
Lockheed Martin’s Aeronautics sales rose from $4.1 billion last year to $4.4 billion this year, while sales in its Information Systems & Global Solutions business declined to $1.3 billion. Revenue from the Missiles and Fire Control segment edged higher to $1.7 billion, while Mission Systems and Training revenue climbed to $3.3 billion. Space Systems revenue edged lower to $2.2 billion.
Lockheed Martin raised its full-year earnings guide to between $12.15 and $12.45 per share from the previous range of $11.50 to $11.80 per share. The defense contractor also raised its full-year revenue outlook to between $50 billion and $51.5 billion from the previous range of $49.6 billion to $51.1 billion. The consensus estimates for the full year are $11.84 per share and $50.46 billion.
Shares of Lockheed Martin rose by as much as 1.83% to $260.99 in premarket trading this morning.