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Lockheed Martin Earnings Beat Diluted by Soft Guidance

Lockheed Martin Corp. (NYSE: LMT) reported third-quarter 2015 results before markets opened Tuesday. The world’s largest defense company posted diluted earnings per share (EPS) of $2.77 on revenues of $11.5 billion. In the same period a year ago, the company reported EPS of $2.76 on revenues of $11.11 billion. Third-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $2.72 and $11.14 billion in revenues.

Cash flow from operations totaled $1.52 billion in the quarter, up from $990 million in the third quarter of 2014. For the year to date, cash flow from operations has dropped from a three-quarter total of $4.07 billion last year to $3.74 billion.

The company revised some aspects of its full-year outlook, raising net sales guidance from a range of $43.5 billion to $45 billion to a fixed amount of approximately $45 billion. Segment operating profit guidance has also been raised from a range of $5.23 billion to $5.38 billion to approximately $5.4...