Stock Story -
Security and Aerospace company Lockheed Martin (NYSE:LMT) will be reporting earnings tomorrow before market open. Here's what you need to know.
Lockheed Martin beat analysts' revenue expectations by 7.5% last quarter, reporting revenues of $17.2 billion, up 13.7% year on year. It was a stunning quarter for the company, with an impressive beat of analysts' organic revenue estimates and a decent beat of analysts' earnings estimates.
Is Lockheed Martin a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Lockheed Martin's revenue to grow 1.9% year on year to $17.01 billion, slowing from the 8.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $6.45 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Lockheed Martin has missed Wall Street's revenue estimates twice over the last two years.
Looking at Lockheed Martin's peers in the aerospace and defense segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Hexcel delivered year-on-year revenue growth of 10.1%, beating analysts' expectations by 3%, and AAR reported revenues up 18.7%, in line with consensus estimates. Hexcel traded down 7.5% following the results while AAR was also down 12.1%.
Read the full analysis of Hexcel's and AAR's results on StockStory.
There has been positive sentiment among investors in the aerospace and defense segment, with share prices up 4.5% on average over the last month. Lockheed Martin's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $492.4 (compared to the current share price of $474.0).
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