LMT FY 2018 Earnings Report — Lockheed Martin Corporation Revenue & Financial Results | Market Cap Arena

Lockheed Martin CorporationLMT

FY 2018 Earnings

Reported February 8, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$53.8B	—	$50.0B	—	7.6%
Op. Income	$7.3B	—	$6.7B	—	8.7%
Gross Margin	13.7%	—	12.8%	—	1.0pp
Net Margin	9.4%	—	4.0%	—	5.4pp
EPS (Diluted)	$17.59	—	$6.89	—	155.3%
Free Cash Flow	$1.9B	—	$5.3B	—	-64.9%

Revenue Flow

Item	Amount
REVENUE	$53.8B
Cost of Revenue	$46.4B
GROSS PROFIT	$7.4B
R&D Expenses	$1.3B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$777M
Other Expenses	-$2.0B
Operating Expenses	$36M
Cost & Expenses	$46.5B
OPERATING INCOME	$7.3B
Interest Income	$0
Interest Expense	$668M
Other Income/Expenses	-$1.5B
INCOME BEFORE TAX	$5.8B
Income Tax Expense	$792M
Net Income from Continuing Ops	$5.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5.0B
D&A	$1.2B
EBIT	$6.5B
EBITDA	$7.7B
EPS	$18
EPS Diluted	$18

Income Statement

Item	Amount
REVENUE	$53.8B
Cost of Revenue	$46.4B
GROSS PROFIT	$7.4B
R&D Expenses	$1.3B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$777M
Other Expenses	-$2.0B
Operating Expenses	$36M
Cost & Expenses	$46.5B
OPERATING INCOME	$7.3B
Interest Income	$0
Interest Expense	$668M
Other Income/Expenses	-$1.5B
INCOME BEFORE TAX	$5.8B
Income Tax Expense	$792M
Net Income from Continuing Ops	$5.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5.0B
D&A	$1.2B
EBIT	$6.5B
EBITDA	$7.7B
EPS	$18
EPS Diluted	$18

Cash Flow Statement

Item	Amount
Net Income	$5.0B
Depreciation & Amortization	$1.2B
Stock-Based Compensation	$173M
Deferred Income Tax	-$244M
Other Non-Cash Items	$900M
Change in Working Capital	-$3.9B
OPERATING CASH FLOW	$3.1B
Capital Expenditure	-$1.3B
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$203M
NET CASH FROM INVESTING	-$1.1B
Net Debt Issuance	-$150M
Common Stock Repurchased	-$1.5B
Common Dividends Paid	-$2.3B
Other Financing Activities	-$163M
NET CASH FROM FINANCING	-$4.2B
FREE CASH FLOW	$1.9B
Net Change in Cash	-$2.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$772M
Short-Term Investments	$0
Net Receivables	$11.9B
Inventory	$3.0B
Other Current Assets	$418M
TOTAL CURRENT ASSETS	$16.1B
PP&E (Net)	$6.1B
Goodwill	$10.8B
Intangible Assets	$3.5B
Long-Term Investments	$3.3B
Tax Assets	$3.2B
Other Non-Current Assets	$1.9B
TOTAL NON-CURRENT ASSETS	$28.8B
TOTAL ASSETS	$44.9B
Account Payables	$2.4B
Short-Term Debt	$1.5B
Deferred Revenue	$6.5B
Other Current Liabilities	$1.9B
TOTAL CURRENT LIABILITIES	$14.4B
Long-Term Debt	$12.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$16.4B
TOTAL NON-CURRENT LIABILITIES	$29.0B
TOTAL LIABILITIES	$43.4B
Common Stock	$281M
Additional Paid-In Capital	$0
Retained Earnings	$15.4B
Treasury Stock	$0
Accum. Other Comp. Income	-$14.3B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$55M
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$44.9B
Total Debt	$14.1B
Net Debt	$13.3B