Lockheed Martin takes $2B charge, adjusted profit beats

During the Paris Air Show, Lockheed Martin’s F-35A fighter jets took to the skies, showing off their high-flying maneuvers as the company approaches a landmark $37 billion deal to sell the jets to 11 nations

Lockheed Martin Corp reported a net loss in the fourth quarter on Monday as the U.S. defense contractor took a $1.9 billion charge mainly due to the change in U.S. tax law, but beat expectations for sales and adjusted profit.

Lockheed said it expects 2018 net sales in the range of $50.00 billion-$51.50 billion and earnings per share of $15.20-$15.50.

Net sales rose to $15.14 billion from $13.75 billion a year earlier compared with the average analyst estimate of $14.72 billion.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Arun Koyyur)