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Lockheed Martin profit holds relatively steady YOY in fiscal Q2

Lockheed Martin Corp. said its normalized net income for the fiscal second quarter ended June 28 amounted to $2.66 per share, compared with the S&P Capital IQ consensus estimate of $2.66 per share.

EPS rose year over year from $2.60.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $839.4 million, compared with $838.1 million in the year-earlier period.

Total revenue climbed on an annual basis to $11.64 billion from $11.31 billion, and total operating expenses grew from the prior-year period to $10.24 billion from $9.96 billion.

Reported net income rose on an annual basis to $929.3 million, or $2.94 per share, from $889.0 million, or $2.76 per share.