Lockheed's 4Q Results on Target, no Major Surprises in 2019 Guidance
Wide-moat Lockheed Martin reported fourth-quarter and full-year 2018 results that were in line with consensus expectations. Guidance for 2019 growth and profits didn't differ materially from the outlook provided last year, but the refined cash flow guide is slightly better than we expected even though it was primarily due to timing on receivables. The EPS range of $19.15-$19.45 came in a bit below consensus. We're maintaining our $329 fair value and shares look slightly undervalued.Fourth-quart...
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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