The Pentagon's number one weapons supplier Lockheed Martin has lifted its full-year profit guidance after beating analyst expectations in the third quarter.
Net sales at the Maryland-based defence firm rose 14.8 per cent to $11.6bn (£9.5bn) in the third quarter ended 25 September, up from $10.1bn in the same period of last year.
This was partly driven by sales in its rotary and mission systems business unit, which jumped 55 per cent to $3.35bn, including about $1.2bn from sales of Sikorsky military and commercial helicopters.
Revenue in its largest business, its aeronautics division, rose 6.8 per cent to $4.19bn on boosted sales of F-35 jets.
Net income more than doubled to $2.4bn, or $7.93 per share, though this included a one-time special cash payment of $1.8bn for its Information Systems & Global Solutions (IS&GS) arm, which merged with Leidos Holdings in August.
The group also boosted its quarterly dividend 10 per cent to $1.82 per share.
Shares had risen 1.9 per cent to $236.5 in pre-market trading at the time of writing.
Why it's interesting
The defence giant lifted its full-year profit and sales guidance on the back of the robust results. The company said it has raised its adjusted profit forecast to $12.10, from $11.15 to 11.45 per share previously, and sales are now expected to come in at $46.5bn, up from $45bn to $46.2bn.
Read more: Lockheed tipped for South Korea jet deal
After the EU referendum in June, Lockheed's chief executive Marillyn Hewson said the UK could become a more attractive place to invest because the weaker pound could make exporting from Britain more lucrative.
What Lockheed Martin said
President and chief executive Marillyn Hewson said:
The corporation achieved a quarter of strong operational and financial results, while also completing our strategic disposition of IS&GS.
Looking ahead to 2017, we are focused on providing innovative solutions to our customers, while executing on our realigned business portfolio to generate growth and value to shareholders.