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Lockheed Martin's (LMT) 3rd 4th gross falls abbreviated of Wall Street expectations and Raytheon Technologies (RTX) net beat. Defense stocks Northrop Grumman (NOC) and General Dynamics (GD) volition study third-quarter net this week.
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LMT Stock Tumbles After Revenue Miss
Estimates: FactSet analysts saw Lockheed net falling 68.5% to $1.97 per share. But gross is seen edging up 3.8% to $17.1 billion.
Results: Lockheed net fell to $2.21 connected gross of $16.03 billion.
Aeronautics conception income fell 2% to $6.57 cardinal connected little nett income successful the F-35 program.
Lockheed Martin's biggest moneymaker is its F-35 combatant jet. But successful caller quarters its missiles and occurrence power portion has been its fastest-growing segment. However, that conception saw its gross autumn by 6% to $2.78 billion.
Revenue astatine the abstraction portion fell 5% to $2.7 billion. Lockheed said the driblet successful income was partially offset by its hypersonic weapons development. The institution has six hypersonic weapons programs and CEO Jim Taiclet told analysts that helium "multiple" programs starting accumulation betwixt 2023 and 2026.
The institution is processing hypersonic weapons and opened a caller mill successful Alabama for hypersonic rocket accumulation earlier this month. Unlike ballistic missiles, which alert successful a predictable arc, hypersonic weapons alert 5 times the velocity of dependable — oregon Mach 5 — successful unpredictable formation paths, making them hard to support against.
Outlook: Lockheed sees full-year income of $67 billion, down from a erstwhile outlook of $67.3 cardinal to $68.7 billion, owed to the withdrawal from Afghanistan and a driblet successful F-35 production.
Stock: Shares tumbled 11% to 334.57 connected the stock marketplace today. LMT banal is moving up the close broadside of a consolidation with a 397.09 introduction point, according to MarketSmith analysis.
Raytheon Technologies Earnings Beat
Estimates: Raytheon net per stock are seen soaring 88% to $1.09 with gross up 11% to $16.4 billion.
Results: Raytheon reported EPS of $1.26 connected gross of $16.2 billion.
During the expert call, CEO Greg Hayes said that the U.S. withdrawal from Afghanistan has a $75 cardinal interaction connected the company's sales.
Stock: Shares fell 2.5% to 89.07. RTX banal fell retired of bargain scope pursuing earnings, aft breaking retired of a flat base with an 89.98 introduction constituent earlier this month.
General Dynamics Earnings
Estimates: Analysts spot General Dynamics net edging up 3% to $2.98 with gross up 4.3% to $9.8 billion.
Results: Check backmost earlier the marketplace opens Wednesday.
Stock: Shares were down 2.8% to 202.16 GD banal is presently successful bargain scope aft breaking retired of a flat base with a 206.56 introduction point.
Boeing (BA) volition besides study Q3 results aboriginal Wednesday.
Northrop Grumman Earnings
Estimates: Analysts spot Northrop net per stock up 2% to $5.99 but gross dipping 0.7% to $8.93 billion.
Like Lockheed, Northrop is moving connected its ain hypersonic weapons. Northrop and Raytheon Technologies (RTX) successfully completed the archetypal powered trial formation of their Hypersonic Air-Breathing Weapon Concept for the Air Force successful precocious September.
Results: Check backmost earlier the marketplace opens Thursday.
Stock: Shares slid 2.7% to 395.82 Tuesday. NOC banal is presently extended retired of bargain scope aft breaking retired of a level basal with a 379.13 introduction point.
Follow Gillian Rich on Twitter for defence quality and more.
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