Lockheed Martin Reports Q3 2026 Results: EPS Up 15% to $7.97 and Raises Full-Year Outlook

Executive Summary

On October 22, 2026, Lockheed Martin Corporation filed Form 8-K under Item 2.02 (Results of Operations and Financial Condition) disclosing its financial results for the third quarter ended September 27, 2026.

Key Financial Highlights

• Net Sales: Rose 11% year-over-year to $20.71 billion compared to $18.61 billion in Q3 2025, driven by broad-based growth across all four business segments.
• Operating Profit: Consolidated operating profit reached $2.44 billion, up 7% compared to $2.28 billion in Q3 2025. Business segment operating profit grew to $2.23 billion versus $2.03 billion.
• Net Earnings & EPS: Net earnings grew 14% to $1.85 billion ($7.97 per diluted share) compared to $1.62 billion ($6.95 per diluted share) in the prior-year period.
• Cash Generation: Operating cash flow stood at $3.44 billion, and free cash flow reached $3.00 billion after $439 million in capital expenditures.
• Record Backlog: Total backlog reached a record $292.0 billion (up 27% from Q2 2026), bolstered by a $52.5 billion multi-year award for PAC-3 MSE interceptors.

2026 Outlook Update

Lockheed Martin raised its full-year 2026 financial guidance for the second consecutive quarter:

• Sales: Updated to ~$80.0 billion – $82.0 billion (previously $79.75 billion – $81.75 billion).
• Business Segment Operating Profit: Updated to ~$8.575 billion – $8.675 billion (previously $8.500 billion – $8.700 billion).