Lockheed Martin Q3 2024 Adj. EPS $6.84 Beats $6.50 Estimate, Sales $17.104B Miss $17.351B Estimate.
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00:00Lockheed Martin, I like to talk just because this stock is another stock that has been
00:06very cushioned from any type of bad news.
00:08The worst stock, I mean, obviously, we know there's tension still very high over in
00:15the Middle East.
00:16Every time it seems like the stock goes down a little bit, then there's more tensions
00:20and the stock comes right back up.
00:21I think you can look at this stock clearly from $4.50 to $6.14 and say, that is linked
00:27to tensions in the Middle East.
00:29It's hard to bet against that because if the war ends, if they can stop the war tomorrow,
00:36I think that this stock would get beat up.
00:40This is your war stock, your classic war stock.
00:42There's other ones too.
00:43I mean, you can think of General Dynamics.
00:45You could think of NOC.
00:46AVAV is your sneaky war stock, which I have, which I believe is just an awesome company.
00:51I love that company.
00:53Lockheed Martin just seems insulated.
00:55It's giving you a 2% dividend.
00:57The revenue missed.
00:58Give us the earnings here and then we'll break down technically.
01:00Yeah.
01:01EPS came in at $6.80 against the consensus of $6.50, or sorry, $6.84 against the $6.50.
01:11I'm getting two different numbers there.
01:13Sales came in at 17.1.
01:14That missed the 17.35.
01:18Let's see.
01:20Looks like, yeah, raises its outlook for fiscal year 2024.
01:24All in all, I mean, the report was decent, kind of a mixed bag because you missed slightly
01:28on the sales, but on the EPS and the stock is trading down $7.50, about 1.2%, but like
01:35you said, Dennis, this thing has just been ripping and has been pretty insulated from
01:40any bad news.
01:43Maybe it's really an overbought state because we went from $4.50 to $6.14, which is just
01:48a huge move for Lockheed Martin and not that long of a period of time.
01:52This is a stock that doesn't move like that typically, so this is a little bit of buyer
01:56exhaustion happening here too.
01:57I still think logical bouncer, probably the $5.96 low back on October the 10th, so $5.96
02:03to $6.00 probably becomes a buy zone here again, and I don't think tensions ... I don't
02:07think we're de-escalating over there in the Middle East, and that's why I think buying
02:12Lockheed Martin on the dip probably happens.