Lockheed Martin Reports First Quarter 2023 Financial Results

Cash from operations was $1.6 billion in the first quarter of 2023, compared to $1.4 billion in the first quarter of 2022. Free cash flow was $1.3 billion in the first quarter of 2023, compared to $1.1 billion in the first quarter of 2022. Excluded items are included in the reconciling item "Unallocated items" between operating profit from our business segments and our consolidated operating profit. Business segment operating profitBusiness segment operating profit represents operating profit from the company's business segments before unallocated income and expense. The table below reconciles the non-GAAP measure business segment operating profit with the most directly comparable GAAP financial measure, consolidated operating profit.