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Lockheed Martin profit rises 22% on higher F-35 deliveries

Lockheed Martin Corp reported a 22% rise in quarterly profit on Tuesday and raised its 2019 profit forecast for the second time this year, helped by increased demand for its F-35 combat jets.

The Pentagon’s No.1 weapons supplier now expects full-year profit to range between $20.85 and $21.15 per share, compared with its previous forecast of $20.05 to $20.35 per share.

The company’s net earnings rose to $1.42 billion, or $5 per share, in the second quarter ended June 30, from $1.16 billion, or $4.05 per share, a year earlier.

Net sales rose 8% to $14.43 billion.

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