Lockheed Martin reported Tuesday fourth quarter earnings of $959 million, or $3.25 per share, beating Wall Street expectations by 21 cents, due to strong operating margin growth, according to a filing with the Securities and Exchange Commission.
This earnings are up from $817 million, or $2.63 per share, in the same quarter a year ago.
Lockheed Martin is a global security and aerospace company focused with about 97,000 employees worldwide. It has segments in missile and fire controls, rotary and mission systems and space systems.
For the 2016 year, the company earned $3.8 billion, or $12.38 per share. Fourth quarter net sales were $13.8 billion, up from $11.5 billion in 2015.
“Our dedicated employees delivered outstanding performance for our customers in 2016, resulting in exceptional financial results” said Chairman, President, and CEO Marillyn Hewson. “Looking ahead to 2017, we remain focused on meeting commitments to customers, pursuing new business growth opportunities, investing in innovative solutions to drive affordability and prepare for the future, and returning value to our shareholders.”
Lockheed Martin’s stock opened Tuesday at $252.87, down from the previous day’s close of $258.15.
