Lockheed Martin Q3 FY2026: sales up 11.3%, EPS $7.97, outlook raised again
Lockheed Martin beat the $7.5016 consensus EPS with $7.97 and grew sales 11.3% to $20.71 billion, with every one of its four segments posting year-over-year growth. The view is Bullish: the company raised full-year sales, EPS and free cash flow guidance for a second straight quarter on a record $292.0 billion backlog. The main caveat is an F-35 Lot 20 funding gap the company flagged itself.
1 · Expected vs. Actual
Free preview belowDiluted EPS of $7.97 beat the $7.5016 consensus by about $0.47 and rose $1.02 from $6.95 a year ago. Net earnings of $1.85 billion were up 14.0% on higher operating profit and a lower effective tax rate of 15.1% versus 16.5%. Gross margin of 11.8% was slightly below last quarter's 12.2%, so the beat came from volume and tax, not from fatter unit margins.
Sales of $20.71 billion rose 11.3% from $18.61 billion a year earlier and topped the $20.06 billion booked last quarter. Growth was broad rather than concentrated: Aeronautics added 13%, Missiles and Fire Control 24%, Rotary and Mission Systems 3% and Space 4%. Missiles and Fire Control alone contributed $877 million of the increase on Patriot, THAAD, GMLRS and PrSM production ramps.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-10-23
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