LMT Stock Falls as Lockheed Reports 80% Profit Drop on $1.6 Billion Charge
LMT stock plunged after Lockheed Martin shared grim news about its second-quarter earnings. The company’s profit fell a staggering 80%, with net income dropping to $342 million, or $1.46 per share, from $1.64 billion, or $6.85 per share, a year ago. A $1.6 billion charge tied to project setbacks triggered this decline, shaking investor confidence and sending LMT stock down nearly 8.6% on Tuesday.
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