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BETHESDA, Md. (AP) — BETHESDA, Md. (AP) — Lockheed Martin Corp. (LMT) on Tuesday reported fourth-quarter earnings of $1.87 billion.
The Bethesda, Maryland-based company said it had profit of $7.58 per share. Earnings, adjusted for severance costs and non-recurring costs, were $7.90 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $7.26 per share.
The aerospace and defense company posted revenue of $18.87 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $17.98 billion.
For the year, the company reported profit of $6.92 billion, or $27.55 per share. Revenue was reported as $67.57 billion.
Lockheed expects full-year earnings to be $25.65 to $26.35 per share, with revenue in the range of $68.5 billion to $70 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LMT at https://www.zacks.com/ap/LMT