American aerospace and tech firm Lockheed Martin Corporation expects this year’s sales to fall below the 2021 level, even after it posted a double-digit increase in its fourth-quarter earnings.

  • Fourth-quarter net earnings grew by 14.34% to $2.049 billion from $1.792 billion the previous year, equivalent to diluted earnings per share of $7.47 from $6.38. Net sales for the period grew slightly to $17.729 billion from $17.032 billion.
  • Full-year net earnings fell to $6.315 billion from $6.833 billion in 2020, with diluted earnings per share down to $22.76 from $24.30 the previous year. Net sales grew to $67.044 billion from $65.398 billion.
  • Lockheed Martin expects 2022 net sales within the $66 billion range, reflecting the known impacts from the COVID-19 pandemic. Diluted earnings per share for the year are expected at $26.70.
  • President and Chief Executive Officer James Taiclet said cash exceeded projections, as the company delivered on its customer commitments and delivered significant value back to shareholders in 2021.

Taiclet said Lockheed Martin will continue to commit full dedication and “disciplined capital allocation” moving forward. LMT is up 0.63% premarket.