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Dienstag,
23.01.2024 07:29
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PR Newswire
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Lockheed Martin Reports Fourth Quarter and Full Year 2023 Financial Results
Ein Kampfflugzeug von Lockheed Martin in den Niederlanden.
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PR Newswire
BETHESDA, Md., Jan. 23, 2024
- Net sales of $18.9 billion in the fourth quarter and $67.6 billion in 2023
- Net earnings of $1.9 billion, or $7.58 per share in the fourth quarter; $6.9 billion, or $27.55 per share in 2023
- Cash from operations of $2.4 billion and free cash flow of $1.7 billion in the fourth quarter; cash from operations of $7.9 billion and free cash flow of $6.2 billion in 2023
- $3.8 billion of cash returned to shareholders through dividends and share repurchases in the fourth quarter, and $9.1 billion in 2023
- Record backlog of $160.6 billion
- 2024 financial outlook provided
BETHESDA, Md., Jan. 23, 2024 /PRNewswire/ -- Lockheed Martin Corporation [NYSE: LMT] today reported fourth quarter 2023 net sales of $18.9 billion, compared to $19.0 billion in the fourth quarter of 2022. Net earnings in the fourth quarter of 2023 and 2022 were $1.9 billion, or $7.58 and $7.40 per share, respectively. Cash from operations was $2.4 billion in the fourth quarter of 2023, compared to $1.9 billion in the fourth quarter of 2022. Free cash flow was $1.7 billion in the fourth quarter of 2023, compared to $1.2 billion in the fourth quarter of 2022.
Net sales in 2023 were $67.6 billion, compared to $66.0 billion in 2022. Net earnings in 2023 were $6.9 billion, or $27.55 per share, compared to $5.7 billion, or $21.66 per share, in 2022. Cash from operations in 2023 was $7.9 billion, compared to $7.8 billion in 2022. Free cash flow in 2023 was $6.2 billion, compared to $6.1 billion in 2022.
"Our solid finish to 2023 and full-year results reflect continued strong demand for our all-domain portfolio of advanced defense tech solutions. Backlog reached a record $160.6 billion billion and sales increased 2 percent year-over-year to $67.6 billion," said Lockheed Martin Chairman, President and CEO Jim Taiclet. "In 2023 we invested $1.5 billion in research and development and an additional $1.7 billion of capital expenditures to create, accelerate and refine the development of innovative 21st Century Security capabilities. In line with our expectations, we generated $6.2 billion of free cash flow for the year, supporting strong free cash flow per share growth, and we returned over $9 billion to shareholders through dividends and share repurchases.
"Looking ahead to 2024 and beyond, our opportunities to support global security for the U.S. Government and its allies remain robust with traditional and breakthrough technologies. Our team will continue to realize the vision for 21st Century Security integrated platforms and systems, working with industry and commercial partners to pioneer and mature deterrence solutions for customers worldwide. Inside the company, our 1LMX digital transformation initiative will further materialize and drive speed, resiliency, efficiency and competitiveness across our operations. As a result, we anticipate continued top-line growth in 2024 and sustained cash flow conversion and deployment, in support of our mid-single digit growth target in free cash flow per share."
Adjusted earnings before income taxes, net earnings and diluted EPS
The table below shows the impact to earnings before income taxes, net earnings and diluted earnings per share (EPS) for certain non-operational items:
| | (in millions, except per share data) | | Quarters Ended | | ||||||
| | | | Dec. 31, 2023 | | Dec. 31, 2022 | | ||||
| | | | Earnings | Net | Diluted | | Earnings | Net | Diluted | |
| | As Reported (GAAP) | | $ 2,145 | $ 1,866 | $ 7.58 | | $ 2,190 | $ 1,912 | $ 7.40 | |
| | Severance and other charges | | 92 | 73 | 0.30 | | 100 | 79 | 0.31 | |
| | Mark-to-market investment losses1 | | 6 | 5 | 0.02 | | 29 | 22 | 0.08 | |
| | Total Adjustments | | 98 | 78 | 0.32 | | 129 | 101 | 0.39 | |
| | As Adjusted (Non-GAAP)2 | | $ 2,243 | $ 1,944 | $ 7.90 | | $ 2,319 | $ 2,013 | $ 7.79 | |
| | | | | | | | ||||
| 1 | Includes changes in valuations of the company's net assets and liabilities for deferred compensation plans and early-stage company investments. | | ||||||||
| 2 | See the "Use of Non-GAAP Financial Measures" section of this news release for more information. | | ||||||||
| | | | ||||||||
| | (in millions, except per share data) | | Years Ended | | ||||||
| | | | Dec. 31, 2023 | | Dec. 31, 2022 | | ||||
| | | | Earnings | Net | Diluted | | Earnings | Net | Diluted | |
| | As Reported (GAAP) | | $ 8,098 | $ 6,920 | $ 27.55 | | $ 6,680 | $ 5,732 | $ 21.66 | |
| | Pension settlement charge | | — | — | — | | 1,470 | 1,156 | 4.33 | |
| | Severance and other charges | | 92 | 73 | 0.30 | | 100 | 79 | 0.31 | |
| | Mark-to-market investment (gains) losses1 | | (10) | (8) | (0.03) | | 290 | 219 Werbung Mehr Nachrichten zur Lockheed Martin Aktie kostenlos abonnieren
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