US defence giant Lockheed Martin today posted worse-than-expected sales, prompting shares to fall over 2.5 per cent.
The firm, whose F-35 Lightning II jet was criticised as too expensive by US President Donald Trump, also cut its full-year earnings forecast by 10 cents per share.
Operating margins at three of the group’s business units fell during the first three months of 2017, these include the firm's largest unit, its aeronautical division, where margins fell from 11.1 per cent to 10.6 per cent.
Although earnings were cut Lockheed Martin upped its sales forecasts for 2017 from a maximum of $50.6bn (£39.5bn) to $50.7bn.
Shares in the firm fell around 2.5 per cent in the wake of the news.