Lockheed Reports 1Q 2017 Results and Provides Lower Earnings Guidance but an Improved Cash Outlook
Wide-moat Lockheed Martin reported first-quarter 2017 and provided updated 2017 guidance that featured slightly higher revenue and an improved cash outlook but lower earnings. Some updates to our earnings and cash flow forecast combined with a reduction in the U.S. statutory tax rate to 25% from 35% (reflecting the possibility of U.S. corporate tax reform) boosted our fair value to $269 from $244 per share.Controlling for divestments, revenue was up 6.6%, reaching $11.1 billion due to growth in...
Lockheed Martin is a security and aerospace company. The company has four segments: Aeronautics, which is engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of military aircraft; Missiles and Fire Control, which provides air and missile defense systems, logistics, fire control systems, and mission operations support; Rotary and Mission Systems, which provides design, manufacture, service and support for military and commercial helicopters, radar systems, and simulation and training services; Space, which researches, designs, develops, engineers and produces satellites, space transportation systems, and strategic, strike, and defensive systems.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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