Investing.com - Aerospace giant Lockheed Martin (NYSE:LMT) reported better-than-expected third quarter earnings despite missing on revenue figures, it said ahead of Tuesday’s opening bell.
Lockheed Martin said ongoing earnings per share came in at $2.76, beating expectations for earnings of $2.72 per share.
The company’s revenue totaled $11.11 billion in the three months ended September 30, below forecasts for revenue of $11.27 billion.
The aircraft maker expects 2015 net sales will decline at a low single digit rate from 2014 levels and that total business segment operating margin will be in the 11.5% to 12.0%.
"Although we continue to face global economic challenges, our program and operational performance this quarter resulted in increased earnings per share and strong cash generation," said Chairman, President and CEO Marillyn Hewson.
Immediately after the earnings announcement, LMT shares fell 1.7% in trading prior to the opening bell.
Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow futures indicated a gain of 0.45% at the open, the S&P 500 futures pointed to a rise of 0.65%, while Nasdaq 100 futures tacked on 0.8%.