The Chemical Connection: Common Misconceptions in Wet Processing
It’s Only Common Sense: Selling to Engineers
American Made Advocacy: America, It’s Time to Reclaim Manufacturing Leadership
Lockheed Martin Reports Net Sales of $13.8 billion Q4 and FY 2016 Results
January 24, 2017 | PRNewswireEstimated reading time: 1 minute
Lockheed Martin today reported fourth quarter 2016 net sales of $13.8 billion, compared to $11.5 billion in the fourth quarter of 2015. Net earnings from continuing operations in the fourth quarter of 2016 were $959 million, or $3.25 per share, compared to $817 million, or $2.63 per share, in the fourth quarter of 2015. Cash from operations in the fourth quarter of 2016 was $729 million, compared to $1.4 billion in the fourth quarter of 2015.
Net sales in 2016 were $47.2 billion, compared to $40.5 billion in 2015. Net earnings from continuing operations in 2016 were $3.8 billion, or $12.38 per share, compared to $3.1 billion, or $9.93 per share, in 2015. Cash from operations in 2016 was $5.2 billion, compared to cash from operations in 2015 of $5.1 billion.
"Our dedicated employees delivered outstanding performance for our customers in 2016, resulting in exceptional financial results," said Chairman, President, and CEO Marillyn Hewson. "Looking ahead to 2017, we remain focused on meeting commitments to customers, pursuing new business growth opportunities, investing in innovative solutions to drive affordability and prepare for the future, and returning value to our shareholders."
2017 Financial Outlook
The Corporation's outlook for the 2017 FAS/CAS pension benefit is expected to be approximately $880 million. This incorporates a year end 2016 discount rate of 4.125%, a 25 basis point decrease from the end of 2015; an actual investment return during 2016 of approximately 5.0%; a 50 basis point reduction in our long-term rate of return assumption from 8.00% to 7.50%; and the revised longevity assumptions released on Oct. 20, 2016 by the Society of Actuaries. There are no planned contributions to our legacy qualified defined benefit pension plans in 2017.
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 97,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
Share on:
Suggested Items
Kitron: Q1 2025 - Strong Start to the Year
04/25/2025 | KitronKitron reported first-quarter results characterised by continued momentum in the Defence & Aerospace market sector and a growing order backlog.
RTX's Collins Aerospace Enhances Capabilities to Speed Marine Corps Decision-making in Battle
04/22/2025 | RTXCollins Aerospace, an RTX business, successfully demonstrated new technology that helps the military gather and use information from a wider range of sources at Project Convergence Capstone 5, a large-scale military exercise.
AdvancedPCB Appoints Gary Stoffer as Chief Commercial Officer
04/18/2025 | PRNewswireAdvancedPCB is proud to announce the appointment of Gary Stoffer as its new Chief Commercial Officer (CCO). In this role, Stoffer will lead all sales, marketing, and commercial strategy initiatives as the company continues its mission to deliver cutting-edge PCB solutions to industries worldwide.
Real Time with... IPC APEX EXPO 2025: GreenSource's Growth and Future Developments
04/15/2025 | Real Time with...IPC APEX EXPOThings are looking bright for GreenSource. Michael Gleason shares an update on GreenSource's recent growth and upcoming changes. A recipient of a Defense Production Act Investment Program award, GreenSource is planning for new substrate capabilities. Current investments continue to enhance equipment and sustainability initiatives such as water quality. And their unique collaboration with the University of New Hampshire continues to aid their workforce development, despite recruitment challenges.
Apogee Semiconductor Teams with Arrow Electronics to Expand Distribution of Space-Grade Technologies
04/14/2025 | Apogee SemiconductorApogee Semiconductor, a leading provider of advanced technologies for space and extreme environments, announced its collaboration with Arrow Electronics, a global distributor of electronic components and services.