LONDON – On January 24, the U.S. manufacturer, Lockheed Martin, reported its profitable financial standings for 2022.
Lockheed Martin’s Q4 2022 Results…
Let’s take a deep dive into Lockheed Martin’s fourth quarter (Q4) 2022 financial standings –
- The manufacturer reported net sales of $19 billion in Q4 2022, an increase of $1.3 billion over Q4 2021’s net sales of $17.7 billion.
- Their net earnings for Q4 2022 stood at $1.9 billion or $7.40 per share, a $100 million decrease from Q4 2021’s net earnings of $2 billion or $7.47 per share.
- Their net earnings inclusive of non-operational charges stood at $129 million or $0.39 per share, an increase of $37 million when compared to Q4 2021’s standing of $92 million or $0.25 per share.
- During Q4 2022, Lockheed Martin returned $5 billion of cash to its shareholders through share repurchases and dividends.
- Their order backlog for Q4 2022 has also increased to a value of $150 billion, an 11% increase over Q4 2021’s order backlog.
Their net sales total of $18,991 million for Q4 2022 is broken down as $7,635 million in aeronautics, $3,287 million in missiles and fire control, $4,803 million in rotary and mission systems, and $3,266 million in space.
This is compared to Q4 2021’s net sales total of $17,729 million, which is broken down as $7,127 million in aeronautics, $3,219 million in missiles and fire control, $4,460 million in rotary and mission systems, and $2,923 million in space.
The manufacturers operating profit of $2,006 million for Q4 2022 is broken down as $816 million in aeronautics, $451 million in missiles and fire control, $508 million in rotary and mission systems, and $231 million in space.
Compared to Q4 2021’s operating profit of $2,014 million, which is broken down as $820 million in aeronautics, $438 million in missiles and fire control, $448 million in rotary and mission systems, and $308 million in space.
Lockheed Martin’s FY 2022 Results…
Let’s take a deep dive into Lockheed Martin’s full-year (FY) 2022 financial standings –
- The manufacturer reported net sales of $66 billion in FY 2022, a decrease of $1 billion over FY 2021’s net sales of $67 billion.
- Their net earnings for FY 2022 stood at $5.7 billion or $21.66 per share, a $0.6 billion decrease from FY 2021’s net earnings of $6.3 billion or $22.76 per share.
- Their net earnings inclusive of non-operational charges stood at $1.9 billion or $5.57 per share, an increase of $0.5 billion when compared to FY 2021’s standing of $1.4 billion or $3.99 per share.
- During FY 2022, Lockheed Martin returned a total of $10.9 billion of cash to its shareholders through share repurchases and dividends.
Their net sales total of $65,984 million for FY 2022 is broken down as $26,987 million in aeronautics, $11,317 million in missiles and fire control, $16,148 million in rotary and mission systems, and $11,532 million in space.
This is compared to FY 2021’s net sales total of $67,044 million, which is broken down as $26,748 million in aeronautics, $11,693 million in missiles and fire control, $16,789 million in rotary and mission systems, and $11,814 million in space.
The manufacturers operating profit of $7,219 million for FY 2022 is broken down as $2,866 million in aeronautics, $1,635 million in missiles and fire control, $1,673 million in rotary and mission systems, and $1,045 million in space.
Compared to FY 2021’s operating profit of $7,379 million, which is broken down as $2,799 million in aeronautics, $1,648 million in missiles and fire control, $1,798 million in rotary and mission systems, and $1,134 million in space.
Executive Comments…
Commenting on the manufacturer’s strong 2022, Lockheed Martin’s Chairman and Chief Executive Officer, James Taiclet, has said, “Lockheed Martin’s stronger-than-expected finish to the year demonstrated the company’s reliability and resiliency to meet commitments in challenging environments while leading the industry’s critical security advancements for our nation and allies.”
“Our ongoing expansion of 21st Century capabilities and commercial partnerships are delivering deterrence solutions and value-enhancing growth opportunities across our businesses.”
“As we track toward our objective of growth resumption in 2024, we will continue to execute our dynamic and disciplined capital allocation program, by reinvesting in our business and pursuing growth opportunities, and returning capital to shareholders.”
“We remain confident in our plans to enable our customers to stay ahead of ready and to deliver sustainable economic value.”
