(Finance) – Lockheed Martinthe world’s largest military contractor, reported net sales for the third quarter of 2024 equal to $17.1 billion, compared to $16.9 billion in the third quarter of 2023. net profits were $1.6 billion, or $6.80 per share, compared to $1.7 billion, or $6.73 per share, in the third quarter of 2023.
Cash flow from operations was $2.4 billion in the third quarter of 2024, compared to $2.9 billion in the third quarter of 2023. The free cash flow was $2.1 billion in the third quarter of 2024, compared to $2.5 billion in the third quarter of 2023.
“In the third quarter, we advanced our strategic, operational and financial priorities, as demonstrated by our record backlog of over 165 billion dollars, 48 F-35 deliveries, increased production on missile programs and $2.1 billion in free cash flow generation,” the CEO Jim Taiclet.
“As a result of our strong annual results and confidence in our near-term performance, we are increasing forecasts for full-year 2024 sales, segment operating profit, EPS and free cash flow,” he added, noting that the board “also approved a 5% increase in our quarterly dividendthe 22nd consecutive year of increases.”
The company predicts full-year revenue of $71.25 billion, slightly higher than the midpoint of its previous forecast of $70.50-71.50 billion, and earnings per share of $26.65, higher than its previous forecast of 26.10-26.60 dollars.