Lockheed Martin (NYSE: LMT) today reported second quarter 2018 net sales of $13.4 billion, compared to $12.6 billion in the second quarter of 2017. Net earnings in the second quarter of 2018 was $1.2 billion, or $4.05 per share, compared to $955 million, or $3.28 per share, in the second quarter of 2017. Net earnings in the second quarter of 2018 include special charges for severance and restructuring activities of $96 million, which reduced net earnings by $76 million, or $0.26 per share. Cash used for operations in the second quarter of 2018 was $(72) million after pension contributions of $2.0 billion, compared to cash from operations of $1.5 billion in the second quarter of 2017, with no pension contributions.
"The corporation achieved strong results in the second quarter, allowing us to increase our financial guidance for sales, profit, earnings per share and cash from operations," said Lockheed Martin Chairman, President and CEO Marillyn Hewson. "Our team remains dedicated to performing with excellence, providing affordable and innovative solutions for our customers, and generating outstanding value for our shareholders."
Lockheed Martin Reports Second Quarter 2018 Results - Jul 24, 2018