Lockheed Martin Corporation (NYSE: LMT) experienced a notable decrease in its share value, plunging by 7.93% during Tuesday afternoon's trading session. This decline followed the release of its fourth-quarter earnings report.
Currently, Lockheed Martin's shares are priced at $465.58, marking a 7.57% decline, equivalent to a drop of $38.11 on the New York Stock Exchange. In premarket trading earlier that day, the company observed a more than 3% decrease in share value, extending the downward momentum from the previous day.
Throughout the trading day, Lockheed Martin's stock fluctuated between $459.09 and $479.73. Over the past twelve months, the stock has ranged from $413.92 to $618.95. The trading volume surged to 2.11 million shares, significantly surpassing the average of 1.23 million, indicating an increase in investor activity amidst the stock's downturn.
Even though Lockheed Martin surpassed earnings expectations with a reported earnings per share of $7.67 for the fourth quarter—surpassing analyst predictions of $6.58—the company's quarterly revenue of $18.6 billion slightly missed the expected $18.84 billion mark.
Adding to investor concerns, Lockheed Martin's profit forecast for the fiscal year 2025 fell short of market anticipations, contributing to a further erosion of investor confidence.
