Lockheed Martin (NYSE: LMT) reported earnings on Jan. 26. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Lockheed Martin met expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue dropped, and GAAP earnings per share shrank significantly.

Gross margins shrank, operating margins increased, net margins shrank.

Revenue details
Lockheed Martin logged revenue of $12.21 billion. The 17 analysts polled by S&P Capital IQ foresaw revenue of $12.30 billion. Sales were 4.6% lower than the prior-year quarter's $12.79 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.

EPS details
Non-GAAP EPS came in at $2.14. The 21 earnings estimates compiled by S&P Capital IQ forecast $1.95 per share on the same basis. GAAP EPS of $2.09 for Q4 were 23% lower than the prior-year quarter's $2.73 per share.

Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 8.1%, 30 basis points worse than the prior-year quarter. Operating margin was 8.9%, 10 basis points better than the prior-year quarter. Net margin was 5.6%, 210 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $10.47 billion. On the bottom line, the average EPS estimate is $1.67.

Next year's average estimate for revenue is $45.76 billion. The average EPS estimate is $7.85.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,756 members out of 1,874 rating the stock outperform, and 119 members rating it underperform. Among 495 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 476 give Lockheed Martin a green thumbs-up, and 19 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Lockheed Martin is hold, with an average price target of $79.06.

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