F-35 sales help boost Lockheed Martin Q3 profit to $888M

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Lockheed Martin

Lockheed Martin makes the F-35 fighter jet in Fort Worth.

Lance Murray

Digital Content Producer- Dallas Business Journal

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Higher sales of the Fort Worth-made F-35 fighter jet helped boost Lockheed Martin Corp.'s profit in the third quarter.

Lockheed posted a profit of $888 million, or $2.76 per share, compared to $873 million or $2.66 per share, in the same quarter a year ago.

The results beat analysts' expectations of $2.72 per share, according to Bloomberg.

Sales in the quarter were 2 percent lower than last year in the company's Fort Worth-based aeronautics division, mostly from lower sales of its C-130 aircraft, Lockheed said. But higher sales of the F-35 helped offset that reduction, Lockheed said.

The aeronautics division posted a proft of $362 million in the quarter.

The company's Grand Prairie-based Missiles and Fire Control unit recorded a profit of $335 million in the quarter, compared to $356 million in the same quarter a year ago.

Lance Murray edits and writes for the DBJ's website and can be reached at 214-706-7106. Subscribe to our email newsletters.