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LOCKHEED MARTIN ● Lockheed Martin Reports Second Quarter 2021 Results Net sales of $ 17.0 billion Net earnings of $ 1.8 billion , or $ 6.52 per share Generated cash from operations of $ 1.3 billion Increases 2021 financial outlook for earnings per share Exhibit 99.1 News Release BETHESDA , Md . , July 26 , 2021 – Lockheed Martin Corporation [ NYSE : LMT ] today reported second quarter 2021 net sales of $ 17.0 billion , compared to $ 16.2 billion in the second quarter of 2020. Net earnings in the second quarter of 2021 were $ 1.8 billion , or $ 6.52 per share , compared to $ 1.6 billion , or $ 5.79 per share , in the second quarter of 2020. Second quarter 2021 net earnings include a loss of $ 225 million ( $ 169 million , or $ 0.61 per share , after tax ) , recorded at Aeronautics , related to performance issues experienced on a classified program . Net earnings for the second quarter 2020 include a noncash impairment charge of $ 128 million ( $ 96 million , or $ 0.34 per share , after tax ) for an investment in a joint venture that the company sold . Cash from operations in the second quarter of 2021 was $ 1.3 billion , compared to $ 2.2 billion in the second quarter of 2020 . 1 " In my first year leading our company , I'm proud of the extraordinary resolve demonstrated by our 114,000 team members to rise above the challenges of the pandemic in support of our customers , our nation and our allies . This is reflected in our solid sales growth across each business area this quarter , " said Lockheed Martin Chairman , President and CEO James Taiclet . " Our teams continue to deliver on key platform programs while also advancing technologies critical for 21st century deterrence and scientific discovery . And as a result , we are maintaining our prior guidance for full - year sales , segment operating profit , and cash from operations , while raising guidance for full - year EPS . ”