A F-35 fighter jet is seen as Turkey takes delivery of its first F-35 fighter jet with a ceremony at the Lockheed Martin in Forth Worth, Texas, United States on June 21, 2018.
Atilgan Ozdil | Anadolu Agency | Getty Images
Lockheed Martin 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 its 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.