Lockheed Martin Q2 2026 earnings beat, full-year outlook raised

Lockheed Martin reported second-quarter income of $20.1 cardinal connected Thursday, up 11% from a twelvemonth earlier, and raised its full-year fiscal guidance aft results came successful up of expectations. Lockheed Martin banal roseate much than 5% successful aboriginal trading.

Net net for the 4th were $1.8 billion, oregon $7.94 per share, compared to $342 million, oregon $1.46 per share, successful the 2nd 4th of 2025. The year-earlier play included $1.6 cardinal successful programme losses. Cash from operations reached $3.2 billion, up from $201 cardinal a twelvemonth earlier, and escaped currency travel was $2.9 billion, compared to antagonistic $150 cardinal successful the prior-year quarter.

The institution lifted its full-year 2026 income outlook to astir $79.75 cardinal to $81.75 billion, up from its anterior guidance scope of $77.5 cardinal to $80.0 billion. Full-year diluted net per stock guidance was raised to $29.95 to $30.65, from the erstwhile scope of $29.35 to $30.25. Projected escaped currency travel accrued to $7.0 cardinal to $7.2 billion, from $6.5 cardinal to $6.8 cardinal previously.

"We present expect accelerated year-over-year income maturation of astir 8%, driving 28% higher conception operating profit, and accrued escaped currency flow, present projected to beryllium implicit $7 billion," said Lockheed Martin Chairman, President and CEO Jim Taiclet successful a statement.

The Missiles and Fire Control conception was a superior maturation driver, with income rising 19% to $4.1 cardinal connected accumulation ramps for PAC-3, THAAD, and Precision Strike Missile programs. Aeronautics posted income of $8.1 billion, up 9%, led by higher F-35 accumulation volume. Rotary and Mission Systems income roseate 9% to $4.4 billion, portion Space income accrued 6% to $3.5 billion.

The institution reported a grounds backlog of $230.4 billion, up from $193.6 cardinal astatine year-end 2025, boosted by $65 cardinal successful caller orders during the quarter. The backlog for Missiles and Fire Control astir doubled to $87.9 billion, reflecting a $35 cardinal multi-year declaration with the Missile Defense Agency for THAAD interceptors signed during the quarter.

The beardown 4th marks a reversal from earlier successful the year. Lockheed posted weaker first-quarter results, erstwhile nett net fell to $1.5 cardinal from $1.7 cardinal a twelvemonth earlier, weighed down by $125 cardinal successful unfavorable nett adjustments connected the F-16 programme and $55 cardinal successful C-130 transportation delays. The institution had reaffirmed its full-year outlook astatine that clip without raising it.

Lockheed besides has a pending acquisition successful progress. The institution agreed earlier this period to get Ultra Maritime for $3.45 billion, a woody that would grow its undersea and anti-submarine warfare capabilities wrong the Rotary and Mission Systems segment. That transaction remains taxable to regulatory approvals and is not incorporated into the company's existent fiscal guidance.