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: Mar 30, 2025 Dec 31, 2024 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
Products 14,936 15,500 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
Services 3,027 3,122 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
Sales 17,963 18,622 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
Products (13,284) (15,484) (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)
Services (2,640) (2,760) (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)
Impairment and severance charges (87) (92) (100) (36) (27)
Other unallocated, net 284 312 249 197 285 350 251 277 355 385 327 267 281 444 444 426 475 457 374 424 395
Operating costs and expenses (15,640) (17,932) (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)
Gross profit 2,323 690 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
Other income (expense), net 49 6 23 18 36 (2) (6) 45 (9) (9) 39 7 24 33 (8) 41 (4) 75 11 (127) 31
Operating profit 2,372 696 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
Interest expense (268) (264) (256) (261) (255) (254) (237) (223) (202) (202) (145) (141) (135) (146) (141) (142) (140) (149) (145) (149) (148)
Non-service FAS pension income (expense) (98) 15 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 30 72 18 46 45 (5) 37 (17) 49 (10) (26) (161) 123 88 98 26 76 (118) 25 56
Earnings from continuing operations before income taxes 2,036 519 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
Income tax expense (324) 8 (295) (307) (290) (279) (269) (325) (305) (278) (321) (21) (328) (441) (65) (355) (374) (395) (303) (336) (313)
Net earnings from continuing operations 1,712 527 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
Net loss from discontinued operations (55)
Net earnings 1,712 527 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

Based on: 10-Q (reporting date: 2025-03-30), 10-K (reporting date: 2024-12-31), 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).

Income statement item Description The company
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. sales increased from Q3 2024 to Q4 2024 but then slightly decreased from Q4 2024 to Q1 2025.
Operating profit The net result for the period of deducting operating expenses from operating revenues. Lockheed Martin Corp. operating profit decreased from Q3 2024 to Q4 2024 but then increased from Q4 2024 to Q1 2025 exceeding Q3 2024 level.
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 decreased from Q3 2024 to Q4 2024 but then increased from Q4 2024 to Q1 2025 exceeding Q3 2024 level.
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 decreased from Q3 2024 to Q4 2024 but then increased from Q4 2024 to Q1 2025 exceeding Q3 2024 level.