Lockheed Martin Corp. (NYSE:LMT) saw its shares jump 2% higher in pre-market trading after the aerospace and defense group posted above-forecast second-quarter results and raised its full-year outlook.
The NYSE-listed firm saw its second quarter net profit fall to US$942mln, or US$3.23 a share, down from US$1.02bn, or US$3.32 a share a year earlier.
But its earnings per share from continuing operations of US$3.23 was above the consensus forecast of US$3.11, and revenue of US$12.69bn, up from US$11.58bn a year earlier also topped the consensus estimate of US$12.43bn.
The group saw strength in its aeronautics, rotary and mission systems and space systems segments offset a miss in the missiles and fire control business.
Lockheed Martin also raised its full-year 2017 earnings outlook to US$12.30 to US$12.60 per share, up from US$12.15 to US$12.45 per share previously, and increased its revenue estimate to US$49.8bn to US$51.0bn, up from US$49.5bn to US$50.7bn.
In pre-market trading in New York, .the stock – which has rallied over 15% higher in the year-to-date, was up 2.2% at US$295.