Lockheed Martin's Financial Performance Overview

Lockheed Martin Corporation disclosed its fourth-quarter financial results, revealing a slight decrease in net sales to $18.6 billion, marking a 1.3% decline from the previous year. The company also experienced a significant drop in net earnings, which fell by 71.7% to $527 million, with diluted earnings per share (EPS) drastically decreasing by 241.4% to $2.22.

Annual Financial Highlights

For the fiscal year 2024, Lockheed Martin's net sales reached $71 billion, showing a 5% increase year-over-year. However, net earnings saw a sharp decline of 29.7%, totaling $5.3 billion, and diluted EPS dropped by 23.5% to $22.31.

CEO's Statement on Investments and Shareholder Returns

"This year, we've invested over $3 billion in research and development and capital investment to bolster our nation's security, drive innovation, and modernize our operations with cutting-edge digital and manufacturing technologies. Our robust performance has also allowed us to return more than 100% of free cash flow to our shareholders in 2024," stated CEO Jim Taiclet. Following the earnings report, Lockheed Martin's stock experienced a 3.31% decrease in premarket trading.