RTTNews | Oct 26, 2021 08:16AM EDT

08:16 Tuesday, October 26, 2021 (RTTNews.com) - While reporting financial results for the third quarter on Tuesday, Lockheed Martin Corp. (LMT) raised its earnings and adjusted earnings guidance for the full-year 2021, while trimming annual net sales outlook. The company also provided preliminary revenue outlook for fiscal 2022.

For fiscal 2021, the company now projects earnings of about $22.45 per share and adjusted earnings of about $27.17 per share on net sales of about $67.00 billion.

Previously, the company expected earnings in the range of $21.95 to $22.25 per share and adjusted earnings in the range of $26.70 to $27.00 per share on net sales between $67.30 billion and $68.70 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $22.19 per share on net sales of $68.35 billion for the year. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2022, the company expects net sales to decline from expected 2021 levels to approximately $66 billion. The Street is currently looking for revenues of $70.5 billion.

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