via Investors.com
Lockheed Martin (LMT) nearly halved its forecast on the sequester's impact to full-year revenue and reported third-quarter results above analysts' estimates despite continued unease in Washington over the budget.Read the whole story here.
Earnings rose 16.3% in Q3 to $2.57 per share. Analysts polled by Thomson Reuters were expecting $2.26 per share. Revenue dipped 4.4% to $11.34 billion, but still came in above estimates for $11.15 billion.
Something simple is catching my eye with this story.
The US Marine Corps has cancelled the Marine Personnel Carrier, the Commandant looks like a liar and a fool with his vacillation on the Amphibious Combat Vehicle (besides saying that he'll die in a ditch for an airplane!...not his wife, not another Marine...but a fucking airplane) and the US Army is under such budgetary pressure that they're going to kill or delay the Ground Combat Vehicle.
I won't even get into the personnel reductions that are coming up. A Marine Corps of 150,000 ---down from 202,000. An Army that is a shriveled up image of its former self.
And yet .
Despite all the pain that all the services are having to absorb...Lockheed Martin is seeing double digit earnings and they're beating Analysts estimates for price per share.
Tell me again that the F-35 isn't an albatross around the neck of the Marine Corps in particular and the entire DoD in general.
