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Will F-35 Help Lockheed Overcome Defense Budget Cuts?
http://news.investors.com/business/012114-686996-lockheed-revenue-seen-falling-earning-to-rise.htm
Will F-35 Help Lockheed Overcome Defense Budget Cuts?
By GILLIAN RICH, INVESTOR'S BUSINESS DAILY
Posted 01/21/2014 12:24 PM ET
Lockheed Martin's (LMT) fourth-quarter earnings are expected to rise, but issues with pension plans and a reduced Pentagon budget may compete with recent gains made in the F-35 stealth fighter.
Analysts polled by Thomson Reuters expect the defense giant to report a 4% bump in earnings to $1.99 per share when it announces results Thursday. Revenue is seen falling 6.3% to $11.34 billion.
Earlier this month Lockheed was upgraded to buy from neutral by Bank of America on its "higher exposure to the U.S. Air Force" as well as long-term programs like the F-35.
While the next-generation stealth fighter is over budget and behind schedule, it's still in high demand by militaries around the world.
