Lockheed Martin (NYSE: LMT) reported $17.7 billion in net sales during the fourth quarter of its 2021 fiscal year, up 4 percent from the prior-year period, and posted $2 billion, or $7.47 per share, in Q4 net earnings from continuing operations.
The Bethesda, Maryland-based aerospace and defense contractor said Tuesday Q4 cash from operations reached $4.3 billion and shareholders received $2.9 billion in dividends and $4.1 billion through share repurchases for the full FY 2021.
Lockheedâs missiles and fires control segment posted $3.2 billion in net sales during the quarter, up 12 percent from the same period a year ago, and saw its Q4 operating profit increase 17 percent to $438 million. The aeronautics business reported Q4 net sales of $7.1 billion and $820 million in operating profit, which reflects a 13 percent rise from the same period the previous year.
The rotary and mission systems segment saw its fourth-quarter net sales rise 6 percent to approximately $4.5 billion, while the space business reported $2.9 billion in Q4 net sales, down 10 percent from the prior-year period.
Jim Taiclet, chairman, president and CEO of Lockheed and a 2022 Wash100 Award recipient, said the company ended 2021 with solid growth in Q4 sales, earnings per share and segment operating profit and gave back to shareholders $7 billion in dividends and share repurchases amid the challenges posed by the pandemic.
âThrough our strong balance sheet, we continue to invest in the many emerging growth opportunities ahead â from new aircraft competitions around the world, to our classified portfolio, to solid demand for our signature programs, to emerging technologies like hypersonics,â Taiclet added.
The Federal Trade Commission on Tuesday filed a suit to block Lockheedâs planned $4.4 billion acquisition of Aerojet Rocketdyne (NYSE: AJRD) citing the proposed transactionâs impact on competition.
With the FTC challenge, Lockheed said it âcould elect to defend the lawsuit or terminate the merger agreement.”
