Lockheed Martin Q1 Sales Dip Slightly to $17.2B
Ticker: LMT · Form: 10-Q · Filed: 2024-04-23T00:00:00.000Z
Sentiment: neutral
Topics: earnings, financials, defense
TL;DR
LMT Q1 sales down slightly to $17.2B, watch for future guidance.
AI Summary
Lockheed Martin Corp. reported its first quarter 2024 results, with net sales for the three months ended March 31, 2024, totaling $17.2 billion. This represents a slight decrease compared to the same period in the prior year. The company's financial statements also detail changes in retained earnings and accumulated other comprehensive income during the quarter.
Why It Matters
This filing provides insight into Lockheed Martin's recent financial performance, which can impact investor confidence and the defense industry's outlook.
Risk Assessment
Risk Level: low — This is a routine quarterly filing with no immediate red flags.
Key Numbers
- $17.2B — Net Sales (For the three months ended March 31, 2024)
- 20240331 — Reporting Period End Date (Indicates the end of the fiscal quarter reported)
Key Players & Entities
- Lockheed Martin Corp. (company) — Filer of the 10-Q
- 20240331 (date) — End of reporting period
- $17.2 billion (dollar_amount) — Net sales for Q1 2024
FAQ
What were Lockheed Martin's net sales for the first quarter of 2024?
Lockheed Martin's net sales for the three months ended March 31, 2024, were $17.2 billion.
What is the reporting period for this 10-Q filing?
The conformed period of report is 20240331, indicating the quarter ending March 31, 2024.
What is Lockheed Martin's primary industry classification?
Lockheed Martin's Standard Industrial Classification is Guided Missiles & Space Vehicles & Parts [3760].
When was this 10-Q filing submitted?
This 10-Q filing was submitted on 20240423.
What are the key balance sheet components mentioned for the end of 2023?
Key balance sheet components mentioned for 2023-12-31 include Common Stock, Additional Paid In Capital, Retained Earnings, and Accumulated Other Comprehensive Income.
From the Filing
0000936468-24-000052.txt : 20240423 0000936468-24-000052.hdr.sgml : 20240423 20240423161551 ACCESSION NUMBER: 0000936468-24-000052 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 73 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240423 DATE AS OF CHANGE: 20240423 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LOCKHEED MARTIN CORP CENTRAL INDEX KEY: 0000936468 STANDARD INDUSTRIAL CLASSIFICATION: GUIDED MISSILES & SPACE VEHICLES & PARTS [3760] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 521893632 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-11437 FILM NUMBER: 24865007 BUSINESS ADDRESS: STREET 1: 6801 ROCKLEDGE DR CITY: BETHESDA STATE: MD ZIP: 20817 BUSINESS PHONE: 3018976000 MAIL ADDRESS: STREET 1: 6801 ROCKLEDGE DRIVE CITY: BETHESDA STATE: MD ZIP: 20817 10-Q 1 lmt-20240331.htm 10-Q lmt-20240331 0000936468 12/31 2024 Q1 FALSE http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent 0000936468 2024-01-01 2024-03-31 0000936468 2024-04-19 xbrli:shares 0000936468 us-gaap:ProductMember 2024-01-01 2024-03-31 iso4217:USD 0000936468 us-gaap:ProductMember 2023-01-01 2023-03-26 0000936468 us-gaap:ServiceMember 2024-01-01 2024-03-31 0000936468 us-gaap:ServiceMember 2023-01-01 2023-03-26 0000936468 2023-01-01 2023-03-26 iso4217:USD xbrli:shares 0000936468 2024-03-31 0000936468 2023-12-31 0000936468 2022-12-31 0000936468 2023-03-26 0000936468 us-gaap:CommonStockMember 2023-12-31 0000936468 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0000936468 us-gaap:RetainedEarningsMember 2023-12-31 0000936468 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0000936468 us-gaap:RetainedEarningsMember 2024-01-01 2024-03-31 0000936468 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-01 2024-03-31 0000936468 us-gaap:CommonStockMember 2024-01-01 2024-03-31 0000936468 us-gaap:AdditionalPaidInCapitalMember 2024-01-01 2024-03-31 0000936468 us-gaap:CommonStockMember 2024-03-31 0000936468 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0000936468 us-gaap:RetainedEarningsMember 2024-03-31 0000936468 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-03-31 0000936468 us-gaap:CommonStockMember 2022-12-31 0000936468 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0000936468 us-gaap:RetainedEarningsMember 2022-12-31 0000936468 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0000936468 us-gaap:RetainedEarningsMember 2023-01-01 2023-03-26 0000936468 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-01 2023-03-26 0000936468 us-gaap:CommonStockMember 2023-01-01 2023-03-26 0000936468 us-gaap:AdditionalPaidInCapitalMember 2023-01-01 2023-03-26 0000936468 us-gaap:CommonStockMember 2023-03-26 0000936468 us-gaap:AdditionalPaidInCapitalMember 2023-03-26 0000936468 us-gaap:RetainedEarningsMember 2023-03-26 0000936468 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-03-26 lmt:segment 0000936468 us-gaap:OperatingSegmentsMember lmt:AeronauticsMember 2024-01-01 2024-03-31 0000936468 us-gaap:OperatingSegmentsMember lmt:AeronauticsMember 2023-01-01 2023-03-26 0000936468 us-gaap:OperatingSegmentsMember lmt:MissilesAndFireControlMember 2024-01-01 2024-03-31 0000936468 us-gaap:OperatingSegmentsMember lmt:MissilesAndFireControlMember 2023-01-01 2023-03-26 0000936468 us-gaap:OperatingSegmentsMember lmt:RotaryAndMissionSystemsMember 2024-01-01 2024-03-31 0000936468 us-gaap:OperatingSegmentsMember lmt:RotaryAndMissionSystemsMember 2023-01-01 2023-03-26 0000936468 us-gaap:OperatingSegmentsMember lmt:SpaceMember 2024-01-01 2024-03-31 0000936468 us-gaap:OperatingSegmentsMember lmt:SpaceMember 2023-01-01 2023-03-26 0000936468 us-gaap:OperatingSegmentsMember 2024-01-01 2024-03-31 0000936468 us-gaap:OperatingSegmentsMember 2023-01-01 2023-03-26 0000936468 us-gaap:MaterialReconcilingItemsMember 2024-01-01 2024-03-31 0000936468 us-gaap:MaterialReconcilingItemsMember 2023-01-01 2023-03-26 0000936468