Lockheed Martin Corp. Q3 Profit Increases, beats estimates

(RTTNews) - Lockheed Martin Corp. (LMT) announced earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $1.78 billion, or $6.71 per share. This compares with $614 million, or $2.21 per share, in last year's third quarter.

Excluding items, Lockheed Martin Corp. reported adjusted earnings of $1.82 billion or $6.87 per share for the period.

Analysts on average had expected the company to earn $6.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.4% to $16.58 billion from $16.03 billion last year.

Lockheed Martin Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $1.78 Bln. vs. $614 Mln. last year. -EPS (Q3): $6.71 vs. $2.21 last year. -Analyst Estimate: $6.67 -Revenue (Q3): $16.58 Bln vs. $16.03 Bln last year.

-Guidance: Full year EPS guidance: $21.55 Full year revenue guidance: $65.250 Bln