Lockheed Martin (LMT) shares were down 3.4% in recent Tuesday trading after the company’s Q4 sales fell year-over-year.
The company reported Q4 adjusted earnings of $7.90 per diluted share, up from $7.79 a year earlier. Analysts polled by Capital IQ expected $7.25.
Net sales for the quarter ended Dec. 31 were $18.87 billion, down from $18.99 billion in the same period in 2022. Analysts surveyed by Capital IQ expected $17.95 billion.
The company said it expects 2024 EPS of $25.65 to $26.35 on net sales of $68.50 billion to $70 billion. Analysts expect EPS of $26.37 on revenue of $68.64 billion.