Lockheed Martin Webcast to Announce Q1 Earnings April 21, 2020

Lockheed Martin Webcast to Announce Q1 Earnings April 21, 2020

BETHESDA, Md., April 14, 2020 /PRNewswire/ — Lockheed Martin (NYSE: LMT) will webcast live its first quarter earnings results conference call on Tuesday, April 21, 2020, at 11 a.m. EDT. Marillyn Hewson, chairman, president and chief executive officer; Ken Possenriede, executive vice president and chief financial officer; and Greg Gardner, vice president of Investor Relations, will discuss first quarter financial results, provide updates on key topics and answer questions. First quarter results will be published prior to the market opening on April 21.

The live webcast and relevant financial charts will be available for download on the Lockheed Martin Investor Relations website, www.lockheedmartin.com/investor.

An on-demand replay of the webcast will be available through Tuesday, May 5, 2020, at www.lockheedmartin.com/investor, and a podcast will be available here.

Steps to Support Supply Chain & Healthcare Workers

Lockheed Martin back on April 9th made a public announcement of the steps it would be taking to help deliver national security for the nation and its allies. They have been working closely with the U.S. Department of Defense in offering their corporate jet fleet for relief efforts. Working with the U.S. Department of health and Human Services they have provided government medical teams transportation assistance.

In addition to offering transportation assistance they have also pledged $10 million in charitable contributions for COVID-19 relief and recovery efforts.

As we continue to face this unprecedented crisis, Lockheed Martin is driven by our commitment to the mission of our U.S. and allied customers. We will continue to maintain our operations for our men and women in uniform and we are resolved to find additional ways to contribute to the relief and recovery from COVID-19. Marillyn Hewson

Lockheed Martin has allocated $6 million towards that goal:

  • $2 million has been donated to Project HOPE to help deliver personal protective equipment (PPE) to the Federal Emergency Management Agency (FEMA) for distribution to America’s doctors, nurses, and first responders.  
  • $2 million to the American Red Cross to help deliver its lifesaving mission during the COVID-19 outbreak and Service to the Armed Forces supporting military personnel, veterans, and families.
  • $2 million to the CDC Foundation All of Us: Combat Coronavirus emergency response fund.

Lockheed Martin is driven by the commitment to the mission of the U.S. and allied customers. They will continue to maintain operations for the men and women in uniform and are resolved to find additional ways to contribute to the relief and recovery from COVID-19.

Technical Anaylsis

The stock is currently trading for $396.12 a share. The stock is currently trading at the exact range it was trading at before it continued on its downtrend from its all time highs. The stock has quickly been able to retrace and reach levels that we say at the beginning of 2020.

Overall we can see the the defense market was not directly affected by the outbreak of COVID-19. They cash-flow remains to be strong as contracts are still in place and work is still being conducted.

In fact Lockheed Martin is one of the companies that have stated they are actively hiring more individuals. Specifically in the virtual space as they are seeing great application for having more staff working virtually on various roles.

The MACD indicator is turning slightly negative which can signal a potential switch from overbought to oversold market conditions. Currently this price level hold a lot of significance on the chart and looking to see how the earnings report comes out will provide investors a strong outlook on the effect COVID-19 has had on Lockheed Martin for the long term outlook of the company.

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