Lockheed Martin Corporation Q3 2026 Earnings Recap

Lockheed Martin’s shares rose 7.0% after the company raised its full-year expectations for sales, earnings, and cash, alongside double-digit sales and profit growth in the quarter. A record $292 billion backlog and $3 billion in quarterly free cash flow added support to the upbeat outlook.

Key Takeaways

• Management said third-quarter sales and profit both grew by double digits and raised full-year expectations again; the transcript provides no revised guidance figures.
• Free cash flow was $3 billion for the quarter, and backlog reached a record $292 billion.
• Lockheed said a multi-year F-35 agreement sets a path to 850 U.S. aircraft over 10 years, with total production of 156 aircraft annually over that period including allied sales.
• The company received a $1.2 billion production contract for Precision Strike Missile Increment 2 after flight tests earlier in the year.
• Lockheed plans to build five Vectis autonomous aircraft with its own investment; flight demonstrations are scheduled for next year.