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The Fighter Jet is Doing Better than Expected

The American manufacturer of fighter jets, Lockheed – a competitor to Swedish Saab – is doing better than expected. The company is raising its profit forecast for 2024.

» Published: 22 October 2024

The Fighter Jet is Doing Better than Expected
Photo: Johan Nilsson/TT

For the full year, a profit per share of 26.65 dollars is expected, which can be compared to an earlier forecast of 26.10-26.60 dollars per share.

The forecast for net sales revenue is simultaneously pegged at 71.25 billion dollars, compared to an earlier 70.50-71.50 billion.

For the third quarter, Lockheed reports a stronger result than expected. The profit per share was 6.80 dollars for the third quarter of the year. This was an increase from 6.73 dollars per share a year earlier.

Analysts had on average expected the profit to decrease to 6.49 dollars per share according to Bloomberg.

Net sales increased by 1.3 percent year-on-year to 17.1 billion dollars. Expectations were 17.4 billion.

The order book was valued at 165.7 billion dollars at the end of the quarter, an increase of 6.2 percent compared to a year earlier.

During the quarter, Lockheed delivered 48 units of the F-35 fighter jet.

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By TTThis article has been altered and translated by Sweden Herald

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