Lockheed Martin takes $2 billion charge

News

(Reuters) – Lockheed Martin Corp (LMT.N) reported a net loss in the fourth quarter on Monday as the U.S. defense contractor took a $1.9 billion charge mainly due to the change in U.S. tax law, but beat expectations for sales. Lockheed said it expects 2018 net sales in the range of $50.00 billion-$51.50 billion and earnings per share of $15.20-$15.50. Net sales rose to $15.14 billion from $13.75 billion a year earlier compared with the average analyst estimate of $14.72 billion. (This version of the story corrects headline and first paragraph to remove incorrect reference to adjusted profit beating estimates) Reporting by Ankit Ajmera in Bengaluru; Editing by Arun KoyyurOur Standards:The Thomson Reuters Trust Principles.
Source: Reuters