(Reuters) – U.S. weapons maker Lockheed Martin
reported a better-than-expected third-quarter revenue, helped by increased gross sales in its aeronautics unit which makes the F-35 fighter jet, and raised its full-year earnings forecast.
The U.S. protection sector has fared higher in contrast with different industries amid a stoop in demand because of the coronavirus disaster, as the federal government has continued to buy weapons whereas additionally offering assist to protection contractors to pay the salaries of extremely expert staff.
Lockheed mentioned deliveries of F-35 jets rose to 31 plane within the quarter ended Sept. 27, from 28 a yr earlier.
The corporate mentioned it now expects 2020 earnings per share of about $24.45, in contrast with its earlier forecast of between $23.75 and $24.05 per share.
Lockheed additionally raised it full-year internet gross sales outlook to $65.25 billion, from $63.5 billion to $65 billion beforehand.
Internet earnings from persevering with operations rose to $1.75 billion, or $6.25 per share, within the quarter, from $1.61 billion, or $5.66 per share, a yr earlier.
Analysts on common anticipated Lockheed to earn $6.09 per share, based on IBES knowledge from Refinitiv.
(Reporting by Ankit Ajmera in Bengaluru; Enhancing by Krishna Chandra Eluri)
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