LMT net sales up 8% in Q2

Lockheed Martin (LMT) logged an 8% increase year-over-year in fiscal 2023 second-quarter net sales to $16.7B, net earnings of $1.7B ($6.63 per share) and a record backlog of $158B. 

The Bethesda, Md.-based aerospace and defense contractor said on July 18 it returned $1.5B to shareholders in the form of cash dividends and share repurchases.

Net sales of its aeronautics segment during the quarter increased 17% to $6.87B, which the company attributed to a higher volume on F-35 production contracts. 

Missiles and fires control business’ Q2 revenue was $2.75B, compared to $2.74B in the prior-year period, while the rotary and mission systems segment logged a 3% decline in sales due to lower Black Hawk production. 

The space segment’s net sales during the quarter rose 12% to $3.2B, which the company attributed to strategic and missile defense, national security space and commercial civil space programs. (PR Newswire 07/18/23) Lockheed Martin Reports Second Quarter 2023 Financial Results - Jul 18, 2023

Lockheed Martin regional site locations in Mississippi at Stennis, Gulfport, Clinton, Meridian, Pascagoula and Vicksburg; sites in Louisiana at New Orleans and Fort Polk; and in Alabama at Huntsville, Troy and Madison.