Lockheed Martin Q4 Net Profit Up 14%, 'Exceeds Expectations'

[Asia Economy Reporter Yujin Cho] Lockheed Martin, the largest defense contractor in the United States, posted better-than-expected strong results for the fourth quarter of last year.

On the 25th (local time), Lockheed Martin announced in its earnings report that its fourth-quarter net profit increased by 14% year-on-year to $2.049 billion.

This slightly exceeded Wall Street analysts' forecast of $1.98 billion.

During the same period, revenue rose 4% year-on-year to $17.729 billion, surpassing the previous year's $17.032 billion and Wall Street's estimate of $17.67 billion.

However, due to worsening supply chain conditions, the annual revenue forecast for this year was lowered to $66 billion. Earnings per share were projected at $26.70.