Investing.com - Aerospace giant Lockheed Martin (NYSE:LMT) reported better-than-expected first quarter earnings despite missing on revenue figures, it said ahead of Tuesday’s opening bell.
Lockheed Martin said ongoing earnings per share came in at $2.74, beating expectations for earnings of $2.50 per share and compared to $933 million, or $2.87 per share, in the first quarter of 2014.
The company’s revenue totaled $10.11 billion in the three months ended March 31, below forecasts for revenue of $10.24 billion and compared to $10.7 billion in the first quarter of 2014.
Cash from operations in the first quarter of 2015 was $957 million, compared to cash from operations of $2.1 billion in the first quarter of 2014.
"Our team continues to deliver solid performance for our customers and strong results for our shareholders," said Marillyn Hewson, Lockheed Martin Chairman, President and CEO.
"We remain focused on successfully competing in the global marketplace and delivering industry-leading affordable products and technologies to our customers," she added.
Immediately after the earnings announcement, LMT shares rose 0.36% in trading prior to the opening bell to hit $197.50 from a closing price of $196.80 on Monday.
Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow futures pointed to a gain of 0.3% at the open, the S&P 500 futures indicated a rise of 0.35%, while the Nasdaq 100 futures signaled an increase of 0.4%.