CNBC/Reuters: Lockheed Martin beats estimates on F-35 sales, maintains guidance
* U.S. weapons maker Lockheed Martin Corp reported better-than-expected quarterly revenue on Tuesday, helped by higher sales in its aeronautics unit which makes the F-35 fighter jet.
* Ukraine is using the Maryland-based company’s High Mobility Artillery Rocket System (HIMARS) launchers and their ammunition to beat back Russia’s incursion.
* Shares were up as much as 3.8% to $412.56 during morning trading in New York.
WASHINGTON - U.S. weapons maker Lockheed Martin Corp reported better-than-expected quarterly revenue on Tuesday, helped by higher sales in its aeronautics unit, which makes the F-35 fighter jet, as the company sees demand for arms increasing after Russia’s invasion of Ukraine.
Shares were up as much as 3.8% to $412.56 during morning trading in New York The maker of the High Mobility Artillery Rocket System (HIMARS) launchers and their ammunition, which Ukraine is using to beat back Russia’s incursion, saw lower profit margins compared with the same quarter a year ago.
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WNU Editor: It is definitely a good time to be a arms manufacturer.
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