Lockheed Martin Reports Third Quarter 2026 Financial Results
Key Highlights
- ➤Q3 sales $20.7 billion, up 11% year over year
- ➤Q3 net earnings $1.8 billion, or $7.97 per share, up 14%
- ➤Record backlog $292.0 billion, up 27% since Q2 2026
- ➤2026 free cash flow outlook raised to approximately $7.8-$8.0 billion
- ➤F-35 lots 20-22 negotiations risk future results without added funding
Expert Statements
Jim Taiclet, Chairman, President and CEO of Lockheed Martin
“Our strong third quarter performance underscores Lockheed Martin's continuing leadership in the development and delivery of advanced and reliable defense technology solutions. Every day, our research, engineering and production teams are putting highly effective and scalable capabilities in the field. We strive to improve mission performance on a continuous basis by combining proven systems like Aegis, F-35, and Hellfire with the latest digital technologies including AI and Autonomy. We are doing this by integrating our internal innovative solutions with those of start-ups, new entrants into our industry, and commercial technology leaders.”
Jim Taiclet, Chairman, President and CEO of Lockheed Martin
“By pulling through our existing platforms and systems using innovations from multiple sources and with newly available digital technology, we can drive elevated growth in our financial performance as well. In the third quarter each of our four segments posted growth year-over-year, sales topped $20.7 billion and net earnings exceeded $1.8 billion, increases of 11% and 14% respectively. We delivered $3 billion of free cash flow in the quarter, and increased our backlog to a record $292 billion, allowing us to raise our dividend for the 24(th) year in a row. The sustained financial momentum across our portfolio gives us confidence to increase our outlook for sales, earnings per share and free cash flow, the second consecutive quarter we have raised our financial guidance.”
Lockheed Martin Reports Third Quarter 2026 Financial Results PR Newswire
* Sales increased 11% to $20.7 billion * Net earnings increased 14% to $1.8 billion, or $7.97 per share * Cash from operations of $3.4 billion and free cash flow of $3.0 billion * Record backlog of $292.0 billion, including $52.5 billion associated with the multi-year award to produce PAC-3 Missile Segment Enhancement (MSE) interceptors * Updates 2026 financial outlook BETHESDA, Md., Oct. 22, 2026 /PRNewswire/ -- Lockheed Martin Corporation [NYSE: LMT] today reported third quarter 2026 sales of $20.7 billion, compared to $18.6 billion in the third quarter of 2025. Net earnings in the third quarter of 2026 were $1.8 billion, or $7.97 per share, compared to $1.6 billion, or $6.95 per share. Cash from operations was $3.4 billion in the third quarter of 2026, compared to $3.7 billion in the third quarter of 2025. Free cash flow was $3.0 billion in the third quarter of 2026, compared to $3.3 billion in the third quarter of 2025. Backlog grew 27% since the second quarter of 2026, setting another new record at $292.0 billion.
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