Artist’s impression of the Dynetics team’s HEL TVD solution. Lockheed Martin Corp. Issuer. This practice only affects interim periods, as the corporation's In the first nine months of 2018, the corporation recognized severance and restructuring charges totaling $96 million ($76 million, or $0.26 per share, after tax) associated with planned workforce reductions and the consolidation of certain operations at the corporation's Rotary and In the first nine months of 2019, the corporation recognized a previously deferred non-cash gain of $51 million ($38 million, or $0.13 per after tax) related to properties sold in 2015 as a result of completing its remaining obligations.Net earnings for the quarter and the first nine months of 2019 include benefits of $62 million ($0.22 per share) and $127 million ($0.45 per share), respectively, for additional tax deductions for the prior year, primarily attributable to foreign derived intangible income treatment based on proposed tax regulations released on March 4, 2019 and our change in tax accounting method. In addition, the corporation's definitions for non-GAAP financial measures may differ from similarly titled measures used by other companies or analysts.Business segment operating profit represents the total earnings from the corporation's business segments before unallocated income and expense. Except where required by applicable law, the corporation expressly disclaims a duty to provide updates to forward-looking statements after the date of this news release to reflect subsequent events, changed circumstances, changes in expectations, or the estimates and assumptions associated with them. This measure is used by the corporation's senior management in evaluating the performance of its business segments and is a performance goal in the corporation's annual incentive plan. As of Sept. 29, 2019, right-of-use operating lease assets were $984 million and operating lease liabilities were $1.1 billion. Download XLS. Read the full article via the Investor Relations Greg Gardner, Vice President 301.897.6584 Email: greg.m.gardner@lmco.com David Weston, Director 301.897.6455 Email: david.weston@lmco.com In addition, comparability of the corporation's segment sales, operating profit and operating margin may be impacted favorably or unfavorably by changes in profit booking rates on the corporation's contracts for which it recognizes revenue over time using the percentage-of-completion cost-to-cost method to measure progress towards completion. - Increased quarterly dividend rate to $2.40 per share- Increased share repurchase authority by $1.0 billion- Updates 2019 financial outlook and provides 2020 financial trendsFor further information: Media Contact: Jarrod Agen, 301-897-6412; jarrod.p.agen@lmco.com; Investor Relations Contacts: Greg Gardner, 301-897-6584; greg.m.gardner@lmco.com; Kelly Stevens, 301-897-6455; kelly.stevens@lmco.comBusiness segment operating profit is a non-GAAP measure.
Lockheed Martin pays an annual dividend of $9.60 per share, with a dividend yield of 2.46%. LMT's next quarterly dividend payment will be made to shareholders of record on Friday, September 25. Net earnings in the third quarter of 2019 were $1.6 billion, or $5.66 per share, compared to $1.5 billion, or $5.14 per share, in the third quarter of 2018. Favorable items may include the positive resolution of contractual matters, cost recoveries on severance and restructuring charges, insurance recoveries and gains on sales of assets. Document Date. While the corporation believes that these non-GAAP financial measures may be useful in evaluating the financial performance of Lockheed Martin Corporation, this information should be considered supplemental and is not a substitute for financial information prepared in accordance with GAAP. 2008 Annual Report. As noted above, while the corporation’s largest customer, the DoD, is funded through the end of the government FY 2019 and thus would not be affected by another shutdown, limiting the direct impact of any future shutdown or shutdowns on Lockheed Martin, other customers, such as NASA, are not. The table below reconciles the non-GAAP measure business segment operating profit with the most directly comparable GAAP financial measure, consolidated operating profit included in the corporation's 2019 financial outlook.Lockheed Martin Corporation will webcast live its third quarter 2019 earnings results conference call (listen-only mode) on This news release contains statements that, to the extent they are not recitations of historical fact, constitute forward-looking statements within the meaning of the federal securities laws, and are based on Lockheed Martin's current expectations and assumptions. The words "believe," "estimate," "anticipate," "project," "intend," "expect," "plan," "outlook," "scheduled," "forecast" and similar expressions are intended to identify forward-looking statements.
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