Lockheed Martin Corporation Earnings Recaps
Q3 2025
Oct 21, 2025
Lockheed Martin reported strong Q3 2025 results, achieving a record backlog of $179 billion, driven by substantial contract wins and 9% year-over-year sales growth.
Key takeaways
- Secured $30 billion in multi-year awards including PAC-3 and JASSM, highlighting sustained demand for missile defense systems.
- Generated over $3 billion in free cash flow, enabling a 5% quarterly dividend increase and enhanced share repurchase authorization.
- Updated 2025 financial outlook anticipates mid-single-digit sales growth and $6.6 billion in free cash flow.
- Record-high backlog includes $11 billion contract for F-35 Lot 18 and 19, reinforcing the company’s position in key defense markets.
- Continued focus on operational execution aims to enhance program performance and mitigate production risks.