Continuing to dominate the weapons manufacturing industry, Lockheed Martin Corporation (NYSE: LMT) released their second quarter earnings results this morning that were able to beat analysts’ forecasts.
Lockheed Martin reported a better-than-expected rise in quarterly profit of 4.5 percent and raised their 2015 earnings forecast from the range of $10.82 - $11.15 to $11.00 - $11.30 per share. The company also reported that international sales have also increased in order to offset the weak government spending in the US; according to Lockheed Martin, foreign sales is expected to cover approximately 25 percent of overall revenue for the next few years. In 2014, foreign revenue only accounted for 20 percent of the total revenue.
For the second quarter of 2015, Lockheed Martin reported a net income of $929 million or $2.94 per share while net sales increased by 3 percent to $11.64 billion. Analysts had forecasted on average only $2.66 per share with revenue of $10.99 billion.
Shares of Lockheed Martin Corp. are up nearly 2 percent during pre-market trading hours with the release of their earnings report.