Procter Gamble Co, Lockheed Martin Corporation Shares Rise After Earnings

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Procter Gamble Co, Lockheed Martin Corporation Shares Rise After Earnings

Procter & Gamble and Lockheed Martin released their latest earnings reports before opening bell this morning. Procter and Gamble reported adjusted earnings of $1.03 per share on $16.552 billion in revenue. Analysts had been expecting earnings of 98 cents per share on $16.48 billion in sales. In last year’s third quarter, the company reported $16.53 billion in sales.

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Lockheed Martin reported adjusted earnings of $3.61 per share and $11.55 billion in sales. Analysts had been expecting earnings of $2.89 per share on $11.45 billion in revenue. In last year’s third quarter, the defense contractor reported $2.42 per share in adjusted earnings and $10.06 billion in sales.

Procter & Gamble’s profits rise

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Procter & Gamble’s GAAP earnings rose to 96 cents per share from 91 cents per share in the same quarter a year ago. Beauty organic sales grew 3% year over year, as did Grooming organic sales. Health Care organic sales increased 7% on double-digit growth in Personal Health Care due to innovation and higher pricing. Fabric & Home Care organic sales grew 4%, while Baby, Feminine & Family Care organic sales grew 2%.

Procter & Gamble continues to expects its core earnings per share for fiscal 2017 to grow in the mid-single digits off the 2016 earnings per share of $3.67. It expects GAAP earnings to grow by 45% to 50% year over year off the 2016 total of $3.69 per share.

Shares of Procter & Gamble jumped by as much as 2.44% to $86.15 in premarket trades this morning.

Lockheed Martin’s sales rise

Lockheed Martin’s GAAP earnings grew to $7.93 per share from $2.77 per share. Aeronautics sales jumped from $3.9 billion last year to $4.2 billion this year. Missiles and Fire Control revenue edged lower slightly to $1.7 billion from $1.77 billion a year ago. Military and Mission Systems revenue grew to $3.35 billion, while Space Systems sales edged higher to $2.28 billion.

Lockheed Martin expects its full-year earnings to be $12.10 per share and full-year revenue to be about $46.5 billion after adjusting for the divested business. The previous outlook was $11.15 to $11.45 per share, and consensus was at $11.77 per share. The previous guidance for sales was between $45 billion and $46.2 billion, and consensus stood at $46.56 billion. Lockheed Martin looks for next year’s sales to increase by about 7%.

Shares of Lockheed Martin rose by as much as 1.01% to $234.50 in premarket trading this morning.

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Michelle Jones is editor-in-chief for ValueWalk.com and has been with the site since 2012. Previously, she was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Email her at Mjones@valuewalk.com.
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