Lockheed Martin raises 2019 profit, shares rise

April 23, 2019

(Reuters) – Pentagon’s No.1 weapons supplier Lockheed Martin Corp on Tuesday reported a 47 percent jump in quarterly profit and raised its 2019 profit forecast, sending shares up 4.5 percent before the bell.

The company now expects full-year profit to range between $20.05 and $20.35 per share, compared with its previous forecast of $19.15 to $19.45.

Net earnings rose to $1.70 billion, or $5.99 per share, in the first quarter ended March 31, from $1.16 billion, or $4.02 per share, a year earlier.

Net sales rose 23 percent to $14.34 billion.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Shinjini Ganguli)

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