On Oct. 24, Lockheed Martin
- Revenues missed analyst estimates, but EPS came out ahead.
- The IT and space systems segments showed an improved operating profit, while the aeronautics division had a slight decline.
- Lockheed executed its "balanced" cash deployment strategy by investing in acquisitions, paying down debt, repurchasing shares, and paying $128 million in dividends. Cash on the balance sheet dropped 25%.
- Free cash flow increased 8.0%.
(Figures in millions, except per-share data)
Income Statement Highlights
Avg. Est. |
Q3 2006 |
Q3 2005 |
Change |
|
---|---|---|---|---|
Sales |
$9,825 |
$9,605 |
$9,201 |
4.4% |
Net Profit |
-- |
$629 |
$427 |
47.3% |
EPS |
$1.24 |
$1.46 |
$0.96 |
52.0% |
Diluted Shares |
-- |
432 |
446 |
(3.1%) |
Get back to basics with a look at the income statement.
Margin Checkup
Q3 2006 |
Q3 2005 |
Change* |
|
---|---|---|---|
Gross Margin |
8.36% |
6.69% |
1.67 |
Operating Margin |
9.42% |
7.67% |
1.75 |
Net Margin |
6.55% |
4.64% |
1.91 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
Assets |
Q3 2006 |
Q3 2005 |
Change |
---|---|---|---|
Cash + ST Invest. |
$2,683 |
$3,566 |
(24.8%) |
Accounts Rec. |
$4,865 |
$4,440 |
9.6% |
Inventory |
$2,034 |
$1,648 |
23.4% |
Liabilities |
Q3 2006 |
Q3 2005 |
Change |
---|---|---|---|
Accounts Payable |
$1,933 |
$1,854 |
4.3% |
Long-Term Debt |
$4,403 |
$4,874 |
(9.7%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
YTD 2006 |
YTD 2005 |
Change |
|
---|---|---|---|
Cash From Ops. |
$3,450 |
$3,138 |
9.9% |
Capital Expenditures |
$453 |
$362 |
25.1% |
Free Cash Flow |
$2,997 |
$2,776 |
8.0% |
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