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Lockheed Martin Q4 profit hits $1.91B

Lockheed Martin Corp. on Tuesday reported a fourth-quarter profit of $1.91 billion.

On a per-share basis, the Bethesda-based aerospace and global security company said it had net income of $7.40. Earnings, adjusted for severance costs and non-recurring costs, came to $7.79 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $7.41 per share.

The company posted revenue of $18.99 billion in the period, also topping Wall Street forecasts. Six analysts surveyed by Zacks expected $18.25 billion.

For the year, the company reported profit of $5.73 billion, or $21.66 per share. Revenue was reported as $65.98 billion.

Lockheed expects full-year earnings to be $26.60 to $26.90 per share, with revenue in the range of $65 billion to $66 billion.

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