Lockheed Martin Corp. Q2 Profit Increases, beats estimates

(RTTNews) - Lockheed Martin Corp. (LMT) released a profit for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $1.68 billion, or $6.63 per share. This compares with $309 million, or $1.16 per share, in last year's second quarter.

Excluding items, Lockheed Martin Corp. reported adjusted earnings of $1.71 billion or $6.73 per share for the period.

Analysts on average had expected the company to earn $6.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.0% to $16.69 billion from $15.45 billion last year.

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

-Earnings (Q2): $1.68 Bln. vs. $309 Mln. last year. -EPS (Q2): $6.63 vs. $1.16 last year. -Analyst Estimate: $6.45 -Revenue (Q2): $16.69 Bln vs. $15.45 Bln last year.

-Guidance: Full year EPS guidance: $27.00 - $27.20 Full year revenue guidance: $66,250-$66,750 Mln