Lockheed Martin (LMT): Incumbent Defense Firms Have Edge Over Competitors, Beats Earnings

Lockheed Martin’s (LMT) 3Q adjusted EPS came in at $6.77 versus an estimated $6.66 and its revenue came in at $16.88B versus an estimated $16.66B. Ed Butowsky and Lee Bohl discuss the major takeaways from LMT’s earnings. LMT’s revenue growth came in at 1.8% and gross margin at 12.1%. They compare LMT to other defense stocks including NOC, GD, and RTX. Ed highlights that global war tensions normally push defense contractors higher. LMT’s 3Q space system sales came in at $3.10B. Lee mentions that incumbent defense firms have an edge over new competitors. Tune in to find out more about the stock market today.