Lockheed Martin Corp. Profit Falls In Q1, but beats estimates

(RTTNews) - Lockheed Martin Corp. (LMT) revealed earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $1.73 billion, or $6.44 per share. This compares with $1.84 billion, or $6.56 per share, in last year's first quarter.

Analysts on average had expected the company to earn $6.21 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.0% to $14.96 billion from $16.26 billion last year.

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

-Earnings (Q1): $1.73 Bln. vs. $1.84 Bln. last year. -EPS (Q1): $6.44 vs. $6.56 last year. -Analyst Estimates: $6.21 -Revenue (Q1): $14.96 Bln vs. $16.26 Bln last year.

-Guidance: Full year EPS guidance: $26.70 Full year revenue guidance: $66 Bln