Lockheed Martin (NYSE: LMT) reported earnings on Oct. 24. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Sep. 30 (Q3), Lockheed Martin beat expectations on revenues and crushed expectations on earnings per share.

Compared to the prior-year quarter, revenue contracted slightly and GAAP earnings per share expanded.

Gross margins dropped, operating margins contracted, net margins grew.

Revenue details
 Lockheed Martin chalked up revenue of $11.87 billion. The 18 analysts polled by S&P Capital IQ expected a top line of $11.18 billion on the same basis. GAAP reported sales were 2.1% lower than the prior-year quarter's $12.12 billion.

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

EPS details
 EPS came in at $2.26. The 22 earnings estimates compiled by S&P Capital IQ anticipated $1.85 per share. GAAP EPS of $2.21 for Q3 were 5.7% higher than the prior-year quarter's $2.09 per share. (The prior-year quarter included $0.10 per share in earnings from discontinued operations.)

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 8.3%, 250 basis points worse than the prior-year quarter. Operating margin was 8.3%, 60 basis points worse than the prior-year quarter. Net margin was 6.1%, 30 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $11.27 billion. On the bottom line, the average EPS estimate is $1.85.

Next year's average estimate for revenue is $45.75 billion. The average EPS estimate is $8.12.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,761 members out of 1,877 rating the stock outperform, and 116 members rating it underperform. Among 481 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 464 give Lockheed Martin a green thumbs-up, and 17 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 $87.07.

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