It's 2 Steps Forward, 1 Step Back for Lockheed Martin as Weak Guidance Deletes an Earnings Beat
Investors didn't rush to buy Lockheed Martin stock this week. They might want to reconsider.
Lockheed Martin (NYSE: LMT) reported earnings on Tuesday, and the crowd went mild.
Seriously. Rarely has an earnings beat the size of the one Lockheed reported this week been met with such a gigantic collective shrug of dismissal as this one. Heading into earnings day, Wall Street analysts confidently predicted Lockheed would report a $6.31-per-share profit on $17.8 billion in sales. Instead, Lockheed reported $18 billion in sales, and a $7.28-per-share profit, a full 15% better than expected. But two days later, Lockheed Martin stock is still up less than a couple of percentage points.
And I can't help but wonder why.
