Stock Analysis on Net

Lockheed Martin Corp. (NYSE:LMT)

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Lockheed Martin Corp., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Sep 29, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 24, 2023 Jun 25, 2023 Mar 26, 2023 Dec 31, 2022 Sep 25, 2022 Jun 26, 2022 Mar 27, 2022 Dec 31, 2021 Sep 26, 2021 Jun 27, 2021 Mar 28, 2021 Dec 31, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 31, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019
Products 14,472 15,109 14,196 15,967 14,014 13,758 12,526 16,200 14,011 12,761 12,494 14,949 13,475 14,258 13,753 14,321 13,869 13,572 13,166 13,352 12,728 12,003 11,970
Services 2,632 3,013 2,999 2,907 2,864 2,935 2,600 2,791 2,572 2,685 2,470 2,780 2,553 2,771 2,505 2,711 2,626 2,648 2,485 2,526 2,443 2,424 2,366
Net sales 17,104 18,122 17,195 18,874 16,878 16,693 15,126 18,991 16,583 15,446 14,964 17,729 16,028 17,029 16,258 17,032 16,495 16,220 15,651 15,878 15,171 14,427 14,336
Products (12,964) (13,520) (12,884) (14,246) (12,571) (12,238) (11,151) (14,474) (12,547) (11,395) (11,161) (13,288) (11,838) (12,866) (12,281) (12,792) (12,370) (12,092) (11,742) (11,951) (11,339) (10,674) (10,625)
Services (2,272) (2,582) (2,603) (2,591) (2,510) (2,642) (2,284) (2,500) (2,243) (2,362) (2,175) (2,463) (2,332) (2,438) (2,230) (2,456) (2,363) (2,339) (2,213) (2,279) (2,211) (2,194) (2,047)
Impairment and severance charges (87) (92) (100) (36) (27)
Other unallocated, net 249 197 285 350 251 277 355 385 327 267 281 444 444 426 475 457 374 424 395 475 442 434 524
Cost of sales (14,987) (15,992) (15,202) (16,579) (14,830) (14,603) (13,080) (16,689) (14,463) (13,490) (13,055) (15,307) (13,726) (14,878) (14,072) (14,818) (14,359) (14,007) (13,560) (13,755) (13,108) (12,434) (12,148)
Gross profit 2,117 2,130 1,993 2,295 2,048 2,090 2,046 2,302 2,120 1,956 1,909 2,422 2,302 2,151 2,186 2,214 2,136 2,213 2,091 2,123 2,063 1,993 2,188
Other income (expense), net 23 18 36 (2) (6) 45 (9) (9) 39 7 24 33 (8) 41 (4) 75 11 (127) 31 26 42 15 95
Operating profit 2,140 2,148 2,029 2,293 2,042 2,135 2,037 2,293 2,159 1,963 1,933 2,455 2,294 2,192 2,182 2,289 2,147 2,086 2,122 2,149 2,105 2,008 2,283
Interest expense (256) (261) (255) (254) (237) (223) (202) (202) (145) (141) (135) (146) (141) (142) (140) (149) (145) (149) (148) (157) (162) (163) (171)
Non-service FAS pension income (expense) 16 15 16 111 111 111 110 109 111 (1,331) 140 93 (1,572) 94 93 165 54
Other non-operating income (expense), net 18 46 45 (5) 37 (17) 49 (10) (26) (161) 123 88 98 26 76 (118) 25 56 (160) (162) (162) (167)
Earnings from continuing operations before income taxes 1,918 1,948 1,835 2,145 1,953 2,006 1,994 2,190 2,099 330 2,061 2,490 679 2,170 2,211 2,187 2,056 1,962 2,030 1,832 1,781 1,683 1,945
Income tax expense (295) (307) (290) (279) (269) (325) (305) (278) (321) (21) (328) (441) (65) (355) (374) (395) (303) (336) (313) (334) (173) (263) (241)
Net earnings from continuing operations 1,623 1,641 1,545 1,866 1,684 1,681 1,689 1,912 1,778 309 1,733 2,049 614 1,815 1,837 1,792 1,753 1,626 1,717 1,498 1,608 1,420 1,704
Net loss from discontinued operations (55)
Net earnings 1,623 1,641 1,545 1,866 1,684 1,681 1,689 1,912 1,778 309 1,733 2,049 614 1,815 1,837 1,792 1,698 1,626 1,717 1,498 1,608 1,420 1,704

Based on: 10-Q (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-26), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Income statement item Description The company
Net sales Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Lockheed Martin Corp. net sales increased from Q1 2024 to Q2 2024 but then decreased significantly from Q2 2024 to Q3 2024.
Operating profit The net result for the period of deducting operating expenses from operating revenues. Lockheed Martin Corp. operating profit increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024.
Earnings from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Lockheed Martin Corp. earnings from continuing operations before income taxes increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024.
Net earnings The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Lockheed Martin Corp. net earnings increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024.