Lockheed Martin missed revenue and earnings estimates last quarter as aeronautics sales dipped, despite new contracts with the United States government.
Net sales rose 0.3% year-over-year to US$18.02 billion, below the Zacks consensus estimate of $18.12 billion. Earnings per share increased 11.5% to $6.44, under estimates of $6.67.
“Lockheed Martin's superior capabilities in delivering advanced defense technology and systems and in space exploration have been proven again and again in 2026,” said chair, president, and CEO Jim Taiclet.
“Our Orion spacecraft safely carried the crew farther from Earth than ever before during NASA's historic Artemis II mission, concluding with a precisely executed re-entry and splashdown. Our superior fifth generation fighter jets, the F-35 and F-22, continue to operate with great effectiveness in contested and difficult missions.”
Aeronautics sales were $6.95 billion, down from $7.06 billion one year ago, which Lockheed Martin credited to lower sales in classified programs and of F-16 aircraft. Rotary and Mission Systems sales also fell from $4.33 billion to $3.99 billion.
Missiles and Fire Control sales rose from $3.37 billion to $3.65 billion, while Space sales climbed from $3.21 billion to $3.43 billion.
Consolidated operating profit was $2.06 billion, down from $2.37 billion. Cash from operations was $220 million, falling well below last year’s $1.4 billion.
Its total backlog was $186.43 billion, dropping from $193.62 billion last quarter.
During the quarter, it signed several multi-year framework agreements with the U.S. government to scale munitions production. Taiclet said collaboration with President Donald Trump’s administration was “a golden opportunity” on today’s earnings call, citing “their experience, their willingness to change, and the demand they have for what we do”.
Lockheed Martin reaffirmed its guidance for 2026, which includes sales of $77.50-80.00 billion and earnings per share of $29.35-30.25.
Shares in Lockheed Martin (NYSE: LMT) closed 4.6% lower at $529.79, and ticked up 0.1% after-hours. Its market capitalisation is $122.10 billion.



