(Reuters) – Lockheed Martin (LMT.N) reported better-than-expected quarterly profit on Tuesday, helped by higher sales in its aeronautics business that makes the F-35 fighter jets, but lowered its 2020 sales outlook due to coronavirus-led supply chain delays.
FILE PHOTO: A Marine Corps pilot prepares for a vertical landing of Lockheed Martin F-35B stealth fighter aboard the USS Wasp (LHD 1) amphibious assault carrier during their operation in the waters off Japan’s southernmost island of Okinawa March 23, 2018. REUTERS/Issei Kato/File Photo
The company said it now expects full-year sales in a range of $62.25 billion to $64.00 billion, down from $62.75 billion to $64.25 billion, forecast previously. Lockheed reaffirmed its 2020 earnings per share forecast of $23.80 – the mid point of the range.
Lockheed’s earnings announcement disclosed that while earnings for the first quarter had not been impacted, “the corporation is beginning to experience some issues in each of its business…
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