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Lockheed Martin: Q1 sales up 14%

( - Lockheed Martin has announced that Q1 2024 net sales reached $17.
2bn, up almost 14% y-o-y.

The company notes improvements in each of its divisions, with +10% for Space, +9% for Aeronautics, +25% for Missile & Fire Control and +16% for Rotary & Mission Systems.

Total consolidated operating income was virtually flat, at $2,029m (compared with $2,037m a year earlier).

Net income finally stood at $1.54bn (vs. $1.69bn in Q1 2023), down 8.8%, and showed EPS of $6.39 vs. $6.61 a year earlier (or $6.33 on an adjusted basis, vs. $6.43 twelve months earlier).

Against this backdrop, Lockheed Martin confirms its targets, with net sales expected between $68.5bn and $70bn in 2024, and EPS between $25.65 and $26.35.

Jim Taiclet, Lockheed Martin's Chairman and CEO, hailed the company's "strong start to the year" and noted that it had generated "solid cash flow of nearly $1.3bn, while taking aggressive steps to further strengthen production capacity".

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