LMT Q3 2019 Earnings Report — Lockheed Martin Corporation Revenue & Financial Results | Market Cap Arena

Lockheed Martin CorporationLMT

Q3 2019 Earnings

Reported October 24, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2019	Q2 2019	Q3 2018	QoQ Change	YoY Change
Revenue	$15.2B	$14.4B	$14.3B	5.2%	6.0%
Op. Income	$2.1B	$2.0B	$2.0B	4.8%	7.2%
Gross Margin	13.6%	13.8%	13.4%	-0.2pp	0.2pp
Net Margin	10.6%	9.8%	10.3%	0.8pp	0.3pp
EPS (Diluted)	$5.66	$5.00	$5.14	13.2%	10.1%
Free Cash Flow	$2.2B	$1.4B	$22M	53.8%	9818.2%

Revenue Flow

Item	Amount
REVENUE	$15.2B
Cost of Revenue	$13.1B
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	-$42M
Operating Expenses	-$42M
Cost & Expenses	$13.1B
OPERATING INCOME	$2.1B
Interest Income	$0
Interest Expense	$162M
Other Income/Expenses	-$324M
INCOME BEFORE TAX	$1.8B
Income Tax Expense	$173M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$302M
EBIT	$1.9B
EBITDA	$2.2B
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$15.2B
Cost of Revenue	$13.1B
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	-$42M
Operating Expenses	-$42M
Cost & Expenses	$13.1B
OPERATING INCOME	$2.1B
Interest Income	$0
Interest Expense	$162M
Other Income/Expenses	-$324M
INCOME BEFORE TAX	$1.8B
Income Tax Expense	$173M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$302M
EBIT	$1.9B
EBITDA	$2.2B
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$1.6B
Depreciation & Amortization	$302M
Stock-Based Compensation	$54M
Deferred Income Tax	$0
Other Non-Cash Items	$510M
Change in Working Capital	$16M
OPERATING CASH FLOW	$2.5B
Capital Expenditure	-$308M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$13M
NET CASH FROM INVESTING	-$295M
Net Debt Issuance	$0
Common Stock Repurchased	-$210M
Common Dividends Paid	-$621M
Other Financing Activities	$8M
NET CASH FROM FINANCING	-$823M
FREE CASH FLOW	$2.2B
Net Change in Cash	$1.4B

Balance Sheet

Item	Amount
Cash & Equivalents	$2.5B
Short-Term Investments	$0
Net Receivables	$13.4B
Inventory	$3.5B
Other Current Assets	$402M
TOTAL CURRENT ASSETS	$19.8B
PP&E (Net)	$6.2B
Goodwill	$10.8B
Intangible Assets	$3.3B
Long-Term Investments	$719M
Tax Assets	$2.9B
Other Non-Current Assets	$5.6B
TOTAL NON-CURRENT ASSETS	$29.5B
TOTAL ASSETS	$49.3B
Account Payables	$2.9B
Short-Term Debt	$900M
Deferred Revenue	$6.8B
Other Current Liabilities	$2.6B
TOTAL CURRENT LIABILITIES	$15.5B
Long-Term Debt	$12.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$16.4B
TOTAL NON-CURRENT LIABILITIES	$29.8B
TOTAL LIABILITIES	$45.3B
Common Stock	$281M
Additional Paid-In Capital	$0
Retained Earnings	$17.3B
Treasury Stock	$0
Accum. Other Comp. Income	-$13.7B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.9B
Minority Interest	$44M
TOTAL EQUITY	$3.9B
TOTAL LIABILITIES & EQUITY	$49.3B
Total Debt	$13.6B
Net Debt	$11.0B