What caused LMT's Q3 2024 earnings to decline?

Lockheed Martin's Q3 2024 earnings decline can be attributed to **Increased Expenses**: 1. **Higher Expenses**: The decrease in profit margin was driven by higher expenses, which is a key factor in the decline of net income. This indicates that the company's costs are rising, which is negatively impacting its profitability. 2. **Strategic Investments**: The company's focus on strategic areas such as the F-35 program, hypersonics, and classified programs requires significant investments. These investments can lead to increased expenses in the short term, which may impact earnings until the investments mature and generate additional revenue. In summary, the decline in Lockheed Martin's Q3 2024 earnings is primarily due to higher expenses, which is a common challenge for companies undergoing strategic investments and operational changes.