Image Source: Zacks Investment ResearchConcerning positivity, three companies – Lockheed Martin (LMT – Free Report), Northrop Grumman (NOC – Free Report), and CRH (CRH – Free Report) – all posted strong results, lifting their outlooks following the releases. For those interested in post-earnings momentum, let’s take a closer look at each.
Lockheed Martin Keeps Paying Investors
Lockheed Martin is the largest defense contractor in the world, operating in defense, space, intelligence, homeland security, and information technology. The company’s steady growth continued throughout its latest period, with EPS and revenue growing 6% and 9%, respectively.The company has been a long-time favorite among income-focused investors, consistently upping its payout over the years. LMT’s cash-generating abilities have aided its dividend growth, with the company posting nearly $1.3 billion in free cash flow throughout its latest period.Below is a chart illustrating the company’s dividends paid annually over the last 15 years. Please note that the final value illustrated is on a trailing twelve-month basis. 
Image Source: Zacks Investment ResearchFollowing the favorable quarter, LMT upped its EPS, segment profit, and sales guidance, causing shares to move bullishly.
Northrop Posts Strong Cash Flows
Northrop Grumman is a leading global security company offering a broad portfolio of capabilities and technologies. The company posted a double beat, with its earnings and sales growing 19% and 7%, respectively.CEO Kathy Warden stated, “We are laser focused on performance and continue to expand profitability through the deliberate actions we are taking. With strong support for our programs, growing global orders for our products, and solid execution in our business, we are increasing our revenue and EPS guidance for the year.”Analysts have adjusted their expectations accordingly, with the now expected $24.99 per share consensus estimate suggesting a 7% climb year-over-year.
Image Source: Zacks Investment ResearchSimilar to LMT, the company’s cash-generating abilities have supported its dividend nicely, boasting a 9% five-year annualized dividend growth rate. Free cash flow of $1.1 billion grew 80% year-over-year throughout the period.It’s worth noting that the quarterly release pushed shares above a prior level of resistance.
Image Source: Zacks Investment Research
CRH Unlocks Higher Profits
CRH manufactures cement, concrete products, aggregates, roofing, insulation, and other building materials. The company just revealed its quarterly results, exceeding our consensus EPS estimate handily and marginally falling short of sales expectations.CRH upped its FY24 net income and adjusted EBITDA guidance following the release, with shares also seeing a positive move post-earnings. The biggest highlight of the release was the company’s improved profitability, driven by cost management and positive pricing.The revisions trend for its current fiscal year was already bullish heading into the release, as we can see below. Given the favorable read and guidance upgrade, it’s more than reasonable to expect this revisions trend to become even more positive.
Image Source: Zacks Investment Research
Bottom Line
The 2024 Q2 earnings season continues to chug along, though a good chunk of the notable names have already reported. The period has remained positive, again underpinned by a strong showing from the tech sector.And concerning the positivity, all three companies above – Lockheed Martin, Northrop Grumman, and CRH – delivered just that, raising their outlooks following their releases.More By This Author:Are AI Stocks Still A Buy? NVDA, AMDVolatility Spikes: 3 Low Beta Stocks To Buy Can The Paris Olympics Reignite This Beaten Down Stock?
