Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, July 28, 2023

Article Excerpt

LOCKHEED MARTIN CORP., $449.00, symbol LMT on New York, is the world’s largest defence contractor. The company operates 375 facilities, employs 116,000 people, and has over 16,000 active suppliers, in every U.S. state and more than 50 countries. It’s headquartered in Bethesda, Maryland. The company has four operating segments: Aeronautics (41% of revenue), Missile and Fire Control (17%), Rotary and Mission Systems (23%), and Space (19%). In the three months ended June 25, 2023, Lockheed Martin’s revenue rose 8.4%, to $16.7 billion from $15.4 billion a year earlier. All its operating units experienced revenue growth, except for its Rotary and Mission Systems segment, which includes Sikorsky Helicopters. Excluding one-time items, the company earned $1.71 billion. That was up 1.3% from $1.69 billion. On a per-share basis, earnings increased by 6.5%, to $6.73 from $6.32, due to fewer shares outstanding. The company’s long-term debt of $17.3 billion, or a low 15% of its market cap. It also holds a high cash balance of $3.7 billion. The…