Lockheed Martin's 12.5% operating margin came in about 60 basis points ahead of expectations, and free cash flow of $2.1 billion was well ahead of Wall Street's $1.3 billion forecast. Strong space and missile bookings also helped Lockheed Martin produce a book-to-bill ratio of 1.43 in the quarter, setting it up well for future periods.

Key Takeaways Lockheed Martin missed revenue estimates as aerospace sales tumbled because of contractual and funding issues for its F-35 fighter jet.Still, the company revised its full-year profit outlook higher.

Good day, and welcome, everyone, to the Lockheed Martin third quarter 2024 earnings results conference call. Today's call is being recorded. [Operator instructions] At this time, for opening remarks and introductions,