Lockheed Martin Corp (LMT) Q1 2020 Earnings Call Transcript

Lockheed Martin Corp (LMT) Q1 2020 Earnings Call Transcript

[Operator Instructions] there will be an opportunity to ask questions.. I'll turn the call now to Mr. Greg Gardner, Vice President of Investor Relations.. Joining me today on the call are Marillyn Hewson, our Chairman, President and Chief Executive Officer; and Ken Possenriede, our Executive Vice President and Chief Financial Officer.. Stable and reliable cash inflows provide needed visibility for all businesses and will be especially important to many small and medium sized suppliers.. The corporation is taking steps to aid our employees, teammates and others.. Ken will review our first quarter financials and updated full-year outlook in more detail in a few minutes.. Our results the quarter were very strong, sales in the quarter exceeded last year's first quarter by more than 9%, led by our Aeronautics team as the Aeronautics business area grew 14% from the first quarter of 2019.. And we had a strong quarter of cash generation bringing in over $2.3 billion of cash from operations as we look to achieve our full-year target of greater than or equal to $7.6 billion.. Moving to orders and backlog, we received more than $15 billion in orders this quarter, maintaining our backlog at approximately $144 billion our all-time