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

The 10-second takeaway
For the quarter ended March 25 (Q1), Lockheed Martin beat expectations on revenues and earnings per share.

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

Gross margins contracted, operating margins expanded, and net margins expanded.

Revenue details
Lockheed Martin booked revenue of $11.29 billion. The 16 analysts polled by S&P Capital IQ foresaw revenue of $10.55 billion on the same basis. GAAP reported sales were 6.2% higher than the prior-year quarter's $10.63 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Non-GAAP EPS came in at $2.02. The 21 earnings estimates compiled by S&P Capital IQ forecast $1.71 per share on the same basis. GAAP EPS of $2.03 for Q1 were 35% higher than the prior-year quarter's $1.50 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 8.6%, 180 basis points worse than the prior-year quarter. Operating margin was 8.9%, 90 basis points better than the prior-year quarter. Net margin was 5.9%, 90 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $11.33 billion. On the bottom line, the average EPS estimate is $1.96.

Next year's average estimate for revenue is $45.69 billion. The average EPS estimate is $7.86.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,752 members out of 1,868 rating the stock outperform, and 116 members rating it underperform. Among 471 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 451 give Lockheed Martin a green thumbs-up, and 20 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 $84.12.

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