Lockheed Martin Company (NYSE: LMT) Tuesday reported a pointy decline in internet revenue for the fourth quarter of 2024 when its gross sales remained broadly unchanged year-over-year.
The aerospace firm reported internet gross sales of $18.6 billion for the ultimate three months of fiscal 2024, in comparison with $18.9 billion in the identical interval of 2023.
Web earnings decreased sharply to $527 million or $2.22 per share within the December quarter from$1.9 billion or $7.58 per share within the prior-year quarter. Within the newest quarter, internet revenue included $1.7 billion of losses associated to labeled program.
“Within the yr, we invested over $3 billion in advancing our nation’s safety by analysis and growth and capital funding to help our clients’ missions, drive innovation, and rework our operations with the most recent digital and manufacturing applied sciences,” mentioned Lockheed Martin’s CEO Jim Taiclet.
