Lockheed Martin (LOM) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Apr 21, 2026

Before Open (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

5.82

Last Year’s EPS

6.11

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 14 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Jan 29, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call emphasized strong commercial momentum: record backlog ($194B), multi-percent revenue growth (full-year +6%, Q4 +9%), robust free cash flow ($6.9B), large production ramps and multiyear framework agreements (PAC-3 and THAAD) that materially expand missile capacity, and a bullish 2026 outlook (sales ~+5% and segment profit +25%+). Key positives include significant investments in capacity and R&D, record program deliveries, and attractive long-term demand visibility. Offsetting items include a modest decline in EPS (‑4%), meaningful program-related profitability hits in Aeronautics and RMS (FY operating profit down 17% and 31%, respectively), pension-related noncash charges and future pension funding requirements, and some near-term margin volatility from program timing. Overall, the positive operational and backlog-driven outlook and strong cash generation outweigh the near-term headwinds and one-time charges.

Company Guidance

Lockheed Martin guided 2026 sales of $77.05–$80.0 billion (≈5% organic growth at the midpoint), segment operating profit of $8.425–$8.675 billion (midpoint margin ~10.9% and reported segment operating profit growth >25% YoY), EPS of $29.35–$30.25 (midpoint ~+$8 vs. 2025, with ~$7 driven by pension-related accounting), and free cash flow of $6.5–$6.8 billion; planned capital expenditures are $2.5–$2.8 billion (with capital + IRAD approaching ~$5 billion, a ~35% YoY increase), business-area outlooks include Aeronautics low single‑digit growth (F‑35 production steady at 156/yr; Aero margin ~9.8%), MFC +14% sales at midpoint (double‑digit CAGR through the decade), RMS low single‑digit growth (margin ~10.5%), and Space ~+5% (margins slightly >10%), while the company prefunded the 2026 pension (~$860–$900M) so no required 2026 contribution and expects pension requirements to resume (~$1B+) in 2027; quarterly cadence for 2026 is 12/13/13/14 weeks (Q1–Q4).

Record Backlog and Strong Demand

Record backlog of $194.0 billion at year-end 2025 (about 2.5x annual sales), backlog grew $17.3 billion or 17% year-over-year, full-year book-to-bill of 1.2, demonstrating resilient and growing demand across core programs.

Revenue Growth

Full-year sales of $75.0 billion, up 6% year-over-year; fourth-quarter sales of $20.3 billion, up 9% year-over-year, with all four business areas contributing to growth.

Strong Free Cash Flow and Operating Cash Conversion

Generated $6.9 billion of free cash flow in 2025 (above prior expectation) and $2.8 billion of free cash flow in Q4; over $9 billion of underlying operating cash flow before $860 million discretionary pension contributions.

Record Program Deliveries and Production Ramps

Delivered a record 191 F-35 aircraft in 2025 and 120 PAC-3 MSE interceptors; announced framework agreements (PAC-3 and THAAD) enabling PAC-3 MSE annual production to increase from ~600 to 2,000 (more than triple).

Missiles & Fire Control Momentum

MFC full-year sales up 14% to $14.5 billion; Q4 sales up 18% year-over-year; full-year segment operating profit margin of 13.8% and significant production ramps (JASSM, LRASM, Precision Fires, PAC-3) with guidance for ~14% sales growth in 2026.

Capital Investment and Innovation Commitment

Invested $3.6 billion in 2025 (capital and IRAD); announced a significant increase in 2026 internal investment (~35% year-over-year) with capital + IRAD approaching $5.0 billion and free cash flow guidance of $6.5–$6.8 billion to support capacity and R&D.

Positive 2026 Financial Outlook

2026 guidance: sales $77.05–$80.0 billion (approx. 5% year-over-year at midpoint); segment operating profit expected to grow more than 25% year-over-year; EPS guidance $29.35–$30.25 (midpoint > $8 higher than 2025).

Technology and Program Highlights

Notable technology achievements: first flight of X-59 quiet supersonic aircraft, over-the-air Aegis updates with AI, demonstration of F-22-controlled drone wingman, Helios shipboard laser neutralized 4 UAVs, SDA Tranche 3 award for 18 satellites (>$1B potential), autonomous Black Hawk and operational prototyping work.

Lockheed Martin (DE:LOM) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DE:LOM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 21, 2026	2026 (Q1)	5.82 / -	6.111	―	―	―
Jan 29, 2026	2025 (Q4)	4.88 / 4.87	1.864	161.26% (+3.01)
Oct 21, 2025	2025 (Q3)	5.36 / 5.83	5.742	1.61% (+0.09)
Jul 22, 2025	2025 (Q2)	5.47 / 1.23	5.968	-79.47% (-4.74)
Apr 22, 2025	2025 (Q1)	5.32 / 6.11	5.314	15.01% (+0.80)
Jan 28, 2025	2024 (Q4)	5.56 / 1.86	6.631	-71.90% (-4.77)
Oct 22, 2024	2024 (Q3)	5.45 / 5.74	5.683	1.03% (+0.06)
Jul 23, 2024	2024 (Q2)	5.42 / 5.97	5.649	5.65% (+0.32)
Apr 23, 2024	2024 (Q1)	4.89 / 5.31	5.398	-1.56% (-0.08)
Jan 23, 2024	2023 (Q4)	6.11 / 6.63	6.539	1.41% (+0.09)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DE:LOM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 29, 2026	€498.40	€529.50	+6.24%
Oct 21, 2025	€427.78	€422.03	-1.35%
Jul 22, 2025	€392.21	€354.87	-9.52%
Apr 22, 2025	€398.85	€391.70	-1.79%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.