Lockheed Martin Corporation (LMT - Free Report) is the largest U.S. defense contractor with a platform-centric focus that guarantees a steady inflow of follow-on orders from a leveraged presence in the Army, Air Force, Navy and IT programs.

Lockheed Martin ended 2017 with $99.9 billion in backlog, up from $96.2 billion as of the end of 2016.

Earnings Surprise History

Coming to the earnings surprise, Lockheed Martin Corporation has surpassed the Zacks Consensus Estimate in three of the last four quarters, resulting in a positive average surprise of 4.62%.

Zacks Rank: Currently, Lockheed Martin has a Zacks Rank #3 (Hold) but that could change following its first quarter 2018 earnings report which has just released. 

We have highlighted some of the key details from the just-released announcement below:

Earnings: Lockheed Martin beat earnings estimate. Earnings per share came in at $4.02, which surpassed the Zacks Consensus Estimate of $3.35 by 20%.

Revenue: Revenues of $11.64 billion also surpassed the Zacks Consensus Estimate of $11.30 billion by 3%.

Lockheed Martin Corporation Price and EPS Surprise

Lockheed Martin Corporation Price and EPS Surprise | Lockheed Martin Corporation Quote

Key Stats to Note: During the first quarter, net sales from Lockheed Martin’s Aeronautics segment increased 7% year over year, while the same form Rotary and Missions Systems was up 3%. Sales from Space Systems declined 3%, while sales from Missiles and Fire Control segment increased 8%.

The company repurchased 0.9 million shares for $300 million and paid cash dividends worth $586 million, during the first quarter.

Stock Price: Following the earnings release, share prices for the company rose a solid 2.4% in the pre-market trading session, thereby reflecting investors’ optimism surrounding the earnings release.