Lockheed Martin (NYSE:LMT) just dropped its Q4 and full-year 2024 results, and it's a mixed bag. Sales climbed 5% to $71 billion, showing strong demand for defense tech, but profits took a hit. Net earnings for the year slid to $5.3 billion, or $22.31 per share, weighed down by $2 billion in classified program losses. The fourth quarter was roughrevenue dipped 1.3% to $18.6 billion, and EPS plunged 70.7% to $2.22, missing Wall Street's estimates. But here's the silver lining: a record $176 billion backlog, signaling long-term stability despite near-term turbulence.

• Warning! GuruFocus has detected 2 Warning Signs with LMT.

Looking ahead, Lockheed is targeting 2025 revenue between $73.8 billion and $74.8 billion, with EPS projections ranging from $27.00 to $27.30. Those numbers are solid, but investors were hoping for more. Analysts had penciled in $74.1 billion in revenue and $27.94 per share in earnings, and the company's warning about operating margins slipping below 11% didn't help sentiment. CEO Jim Taiclet, however, remains confident, betting big on next-gen military techthink AI-driven drones, sixth-gen fighter jets, and cutting-edge battlefield communication. His message? Short-term headwinds aside, Lockheed is playing the long game.

So, what's the move on Lockheed Martin stock? Shares dipped over 7.6% in the afternoon, but analysts see upside. The consensus price target sits at $555.30, implying nearly 20% upside. Truist Securities is even more bullish, slapping a $579 target on it, arguing that concerns over defense budget cuts are overblown. Bottom line: If management executes on its 2025 game plan, this could be a buy-the-dip moment.