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

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

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

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

Revenue details
 Lockheed Martin booked revenue of $12.10 billion. The 17 analysts polled by S&P Capital IQ predicted sales of $11.16 billion on the same basis. GAAP reported sales were 0.9% lower than the prior-year quarter's $12.21 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 $1.78. The 21 earnings estimates compiled by S&P Capital IQ predicted $1.82 per share. GAAP EPS of $1.73 for Q4 were 17% lower than the prior-year quarter's $2.09 per share. (The prior-year quarter included -$0.05 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 8.2%, 950 basis points worse than the prior-year quarter. Operating margin was 8.8%, 270 basis points better than the prior-year quarter. Net margin was 4.7%, 90 basis points worse than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $10.80 billion. On the bottom line, the average EPS estimate is $1.95.

Next year's average estimate for revenue is $45.26 billion. The average EPS estimate is $8.31.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,761 members out of 1,880 rating the stock outperform, and 119 members rating it underperform. Among 499 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 481 give Lockheed Martin a green thumbs-up, and 18 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 $93.93.

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