Lockheed Martin (LMT)
NYSE:LMT
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Earnings Data
Report Date
Jul 28, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
7.21Last Year’s EPS
1.46Same Quarter Last Year
Based on 15 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a mix of strong commercial wins, strategic program validation (Artemis/Orion), large munition and aircraft awards, and clear demand signaling that underpin long-term growth and support management's full-year guidance. Offsetting these positives were near-term execution and timing issues (shortened fiscal period, ERP implementation, program-specific design and supplier challenges) that compressed margins and drove a Q1 cash use and a ~12% EPS decline. Management emphasized risk-mitigation arrangements for production ramps, substantial supplier and government coordination, and confidence that margins and cash flow will improve in the back half of the year.Company Guidance
Large New International and Domestic Contracts
Signed a $1.5 billion contract with the Peruvian Air Force for 12 Block 70 F-16s (option for additional 12), secured MFC orders totaling ~$7.0 billion for PAC-3 including $2.2B and a $4.8B undefinitized contract, $700M in F-35 long-lead material awards (lots 20/21 international), $890M Fleet Ballistic Missile award, and a $365M Aegis BMD award.
Artemis 2 / Orion Mission Success and Ongoing Space Execution
Orion spacecraft performed a near-flawless Artemis 2 mission (10-day lunar mission); company assembling Orion for Artemis 3–5, reinforcing Lockheed Martin's role in sustained deep-space exploration and validating product performance in demanding missions.
Strong Demand and Production Ramp Momentum
Management highlighted elevated, sustained demand across core franchises. Factory production is up more than 60% versus two years ago; MFC sales increased 8% year-over-year and MFC operating profit rose 8% driven by production ramps (PAC-3, JASSM, LRASM, PRISM). Company announced plans to scale production (e.g., quadruple PRISM production) and is investing in >20 facilities to support munitions ramp.
Quarterly Sales and Business Area Growth
Reported first-quarter sales of $18.0 billion (in line with Q1 2025 despite a shortened fiscal period). Space sales increased 7% year-over-year driven by strategic and missile defense programs; MFC sales +8% YoY.
Product and Program Milestones
Completed first flight test of PRISM increment demonstrating engagement of moving targets; delivered first UH-60MX Black Hawk with integrated autonomy suite; F-35 continues to demonstrate operational value in active operations prompting higher international and U.S. demand (Pentagon requested 855 aircraft in FY27 budget).
Capital Allocation and Financial Positioning
Maintained full-year 2026 guidance: mid-single-digit sales growth, operating profit guide $8.4B–$8.7B, free cash flow guide $6.5B–$6.8B. Paid $816M dividends and retired $1.0B long-term debt in Q1; increased investments with $511M CapEx and $458M R&D in Q1 (approx. +15% YoY).
Venture and Innovation Investments
Expanding Lockheed Martin Venture Fund to $1.0 billion (more than double prior size), backing >120 companies (25 added in past 2 years), and announcing strategic counter-UAS partnerships to accelerate commercialized turnkey solutions.
LMT Earnings History
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
LMT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 23, 2026 | $555.43 | $529.79 | -4.62% |
Jan 29, 2026 | $594.14 | $619.25 | +4.23% |
Oct 21, 2025 | $499.45 | $483.26 | -3.24% |
Jul 22, 2025 | $451.37 | $402.57 | -10.81% |
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.
FAQ
When does Lockheed Martin (LMT) report earnings?
Lockheed Martin (LMT) is schdueled to report earning on Jul 28, 2026, Before Open (Confirmed).
What is Lockheed Martin (LMT) earnings time?
Lockheed Martin (LMT) earnings time is at Jul 28, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LMT EPS forecast?
LMT EPS forecast for the fiscal quarter 2026 (Q2) is 7.21.
