Home / Financial Report / McAleese & Associates: Lockheed Reports 23% Growth in Q1 2019 Sales

McAleese & Associates: Lockheed Reports 23% Growth in Q1 2019 Sales

Jim McAleese

A report by consulting firm McAleese & Associates says Lockheed Martin (NYSE: LMT) saw its sales in the first quarter of 2019 climb 23 percent to $14.3B primarily driven by sales growth in the company’s aeronautics and missiles and fires control business units.

Jim McAleese, founder and principal of McAleese & Associates and a 2019 Wash100 winner, wrote Lockheed’s MFC sector posted a 60 percent spike in Q1 2019 profit, while the aeronautics segment recorded a 23 percent increase in profit during the period.

Lockheed’s Q1 2019 earnings per share grew by 49 percent to $5.99, while its cash flow during the quarter rose 163 percent to $1.7B, according to the report.

Marillyn Hewson

“The corporation had strong performance in the first quarter which has allowed us to increase our full year financial guidance for sales, profit, earnings per share and cash,” Marillyn Hewson, Lockheed CEO and a 2019 Wash100 recipient, said in a statement published Tuesday.

McAleese said the Bethesda, Md.-based company recorded an incremental margin of 11.5 percent for its F-35 program as the fighter aircraft’s “production and sustainment profitability is visibly improving.”

Sales of Lockheed’s space segment rose 13 percent to $2.5B in the first quarter attributed to the U.S. Air Force’s Advanced Extremely High Frequency and GPS III satellite programs, the report added.

Check Also

Perspecta Labs Recognized for Cybersecurity Innovations Under DARPA Program; Mac Curtis Quoted

Perspecta's (NYSE: PRSP) applied research arm has been selected to receive a 2019 Industry Innovator award for introducing three cybersecurity technology platforms through the Defense Advanced Research Projects Agency’s Rapid Attack Detection, Isolation and Characterization Systems program.

Boeing, Navy Conduct First MQ-25 Unmanned Tanker Test Flight

Boeing (NYSE: BA) and the U.S. Navy completed the initial flight test of the MQ-25 unmanned aerial refueling platform.