Lockheed Martin reports increase in first quarter net sales and earnings

Lockheed Martin chairman, president and CEO Marillyn Hewson in article about Lockheed Martin first quarter sales increaseLockheed Martin chairman, president and CEO Marillyn Hewson -- photo courtesy of Lockheed Martin

Lockheed Martin, whose Marietta plant is one of the largest employers in Cobb County, reported increased sales and earnings compared to the first quarter of 2019.

2020 net sales were $15.7 billion, compared to $14.3 billion in the first quarter of 2019. Net earnings for 2020’s first quarter were $1.7 billion, or $6.08 per share, compared to $1.7 billion, or $5.99 per share, in the first quarter of 2019.

Cash from operations also increased, from $1.7 billion in the first quarter of 2019 to $2.3 billion for the first quarter of 2020.

“As we confront the challenges introduced by the global pandemic, our corporation remains focused on providing vital national security solutions for our customers while maintaining a safe and healthy environment for our employees,” said Lockheed Martin chairman, president and CEO Marillyn Hewson. “I’m so proud of the work the dedicated men and women of Lockheed Martin are doing as part of our strong portfolio to deliver critical products and services for our customers and long-term value for our shareholders.”

Second quarter dividend declared

In a related press release, Lockheed Martin announce it’s second quarter dividend.

The company’s board of directors approved a second quarter dividend of $2.40 per share. The dividend is payable on June 26, 2020, to holders of record as of the close of business on June 1, 2020.

About Lockheed Martin in Marietta

Lockheed Martin has been one of the most important employers in Cobb County since 1951.

The company’s role here began when Lockheed Corporation of Burbank, California occupied the former site of the WWII Bell Bomber plant. The plant had been used for storage by the federal government.

But when the Korean War broke out, and the need arose once again for military aircraft production, Lockheed reopened the plant.

The most notable aircraft produced at the plant were the C-130 and the C-5 Galaxy.

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