A report by consulting firm McAleese & Associates says Lockheed Martin (NYSE: LMT) saw its sales in the second quarter of 2019 rise 8 percent to $14.4B primarily driven by sales growth in the company™s missiles and fires control sector and space segment.
Jim McAleese, founder and principal of McAleese & Associates and a 2019 Wash100 winner, wrote Lockheed™s MFC business covering tactical missiles and hypersonics recorded a 17 percent increase in Q2 profit, while the space business posted a 5 percent profit growth.
Lockheed achieved a record backlog of $137B and saw its Q2 2019 earnings per share grow by 23 percent to $5. The company™s sector operating profit climbed 6 percent to $1.6B during the period.
The company™s space sector is generating an 18 percent Q2 incremental margin on the U.S. Air Force™s GPS III and Advanced Extremely High Frequency satellite programs, according to the report.
McAleese also mentioned the F-35 fighter aircraft program; the U.S. Army™s missile procurement program and its impact on Lockheed™s MFC business; program execution challenges within the rotary and mission systems sector; and hypersonics-related contracts.
