Lockheed Martin raises 2019 forecast as quarterly profit climbs 9.2%

[October 22, 2019]   (Reuters) - Lockheed Martin Corp <LMT.N> raised its forecast for 2019 earnings as it reported a 9.2% rise in quarterly profit on Tuesday, helped by increased sales in its aeronautics business, which makes F-35 fighter jets.

The company raised its per-share profit estimate for the year by 1.9% to $21.55 from $21.15, the high point of a previous guidance.

Lockheed's stock was down about 2.4% in premarket trading.

Net income rose to $1.61 billion, or $5.66 per share, in the third quarter ended Sept. 29, from $1.47 billion, or $5.14 per share, a year earlier.

Net sales rose to $15.17 billion from $14.32 billion.

The Bethesda, Maryland-based company delivered 28 F-35 combat jets in the quarter, compared with 20 a year earlier.

During the second quarter, Lockheed delivered 29 F-35s. So far this year, the company has delivered 83 of the jets, out of a total expected for the year of 131.

(Reporting by Mike Stone in Washington and Dominic Roshan K.L. in Bengaluru; Editing by Aditya Soni and Bernadette Baum)

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