Lockheed Martin Posts Solid Earnings. It Wasn’t About the War in Ukraine.

The latest numbers from defense company

Lockheed Martin

showed the resilience of that industry. They also highlighted how companies can increase earnings per share when sales aren’t growing by buying back stock.

Lockheed (ticker: LMT) reported adjusted fourth-quarter per-share earnings of $7.79 from $19 billion in sales, ending a year in which sales declined overall. For the fourth quarter a year ago, Lockheed reported a profit of $7.47 a share from $17.7 billion in sales.