Image shown: "Lockheed Martin F-35 Joint Strike Fighter Lightning II test aircraft AA-1 undergoes flight testing over Fort Worth, Texas (source)."
We liked Lockheed Martin’s first-quarter 2018 report, and we liked even more that the company raised its full-year outlook for revenue, operating income and earnings per share. Operating cash flow performance was weighed down by pension contributions and backlog didn’t advance in the period, but the backdrop for defense spending remains healthy given ongoing geopolitical tensions. Shares of Lockheed aren’t cheap, however.
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