Shares of Lockheed Martin were nearly 1% lower in pre-market trading on Tuesday after the company said it had third-quarter earnings that just missed analyst estimates. Lockheed reported third quarter net income of $939 million and per-share earnings of $3.24, compared to $1.1 billion and EPS of $7.93, in the year-ago period. Adjusted per-share earnings came to $3.24, versus $3.26 a year ago, and missing the FactSet consensus estimate of $3.26. For the third quarter, revenue came to $12.2 billion. The company said it now expects full-year sales of $50.0 to $51.2 billion, up from earlier estimates of $49.8 to $51.0 billion, and earnings per share of $12.85 to $13.15, versus $12.30 to $12.60. CEO Marillyn Hewson pointed to “a record backlog that supports long term growth” in a statement. Shares of the defense company have gained 28.3% for the year to date, while the S&P 500 [s:spx] is up 14.6% for the same period.
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