Lockheed Martin raises 2018 forecast as strong defense funding fuels Pentagon business

Its largest division was helped by $185 million in sales for F-35 fighter jets. Lockheed Martin LMT on Tuesday bumped up its 2018 forecast and reported strong first-quarter earnings on the back of steady business with the Pentagon. The defense contractor beat Wall Street's earnings per share expectation by 62 cents, with three of the company's four divisions bringing in more revenue than the same quarter last year.