Lockheed beats quarterly profit estimates, raises 2019 forecast

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Lockheed beats quarterly profit estimates, raises 2019 forecast
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Lockheed Martin Corp reported a better-than-expected quarterly profit on Tuesday...

) reported a better-than-expected quarterly profit on Tuesday and raised its 2019 profit forecast for the second time in three months, helped by increased demand for its stealth F-35 combat jets and missiles.

Lockheed’s better-than-expected results come at a time the United States has decided to remove Turkey from the advanced F-35 jet program, following its purchase of a Russian missile defense system. “While it may create some nearer-term challenges related to the program’s supply chain, there seems to be very strong international demand from new foreign customers that could backfill Turkey’s orders,” DeNardi said.

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