Lockheed Martin beats Q3 estimates, lifts 2026 sales and earnings outlook
- Lockheed Martin press release (LMT): Q3 Non-GAAP EPS of $7.97 beats by $0.45.
- Revenue of $20.7B (+11.3% Y/Y) beats by $240M.
- Full-year 2026 outlook: sales of approximately $80B-$82B (consensus: $81B) and diluted EPS of approximately $30.35-$30.75 (consensus: $30.45).
FY 2026 cash from operations outlook: approximately $10.0B-$10.2B; free cash flow outlook: $7.8B-$8.0B.
Aeronautics sales rose 13% to $8.21B, while Missiles and Fire Control sales increased 24% to $4.50B, driven by higher production of PAC-3, THAAD, GMLRS and PrSM programs.
Backlog reached a record $292B, up 27% from Q2, including $52.5B associated with the multi-year PAC-3 MSE interceptor award.
Lockheed Martin said costs on the F-35 Lot 20 advance acquisition contract began exceeding current contractual authorization and funding during Q3.
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