Lockheed Martin Corporation
Lockheed Martin Reports 2024 Financial Results
Summary
Lockheed Martin Corporation reported a 5% increase in net sales to $71.0 billion for 2024. However, classified programs losses at its Aeronautics and Missiles and Fire Control business segments impacted earnings per share, resulting in a diluted earnings per share of $22.31 for 2024. The company reported a net loss of $1.7 billion for the fourth quarter and $2.0 billion for the full year due to these classified programs, leading to an after-tax impact of $5.45 and $6.16 per share respectively. Free cash flow was $5.3 billion in 2024, and the company returned $6.8 billion to shareholders through dividends and share repurchases. The company also provided its financial outlook for 2025.
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About Lockheed Martin Corporation
Lockheed Martin Corporation is a prominent player in the aerospace, defense, and security sectors, globally recognized for its advanced technology and innovation. Primarily engaged in the research, design, development, manufacture, and integration of advanced technology systems, Lockheed Martin plays a crucial role in supporting national and international security. The company's extensive portfolio includes aeronautics, rotary and mission systems, space systems, and missiles and fire control. Its aeronautics division is renowned for producing fighter jets like the F-35 Lightning II and the F-22 Raptor, while its space segment focuses on satellite systems and space exploration initiatives. Lockheed Martin serves a diverse clientele, including the U.S. Department of Defense, allied nations, civil markets, and commercial clients, leveraging its vast technological capabilities to enhance security and defense infrastructures. With a significant presence across the globe, Lockheed Martin Corporation not only fosters innovation in defense but also impacts critical areas such as cybersecurity, energy, and logistics, solidifying its integral role in the defense industry.
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