Lockheed Martin (NYSE:LMT) Releases Earnings Results, Beats Expectations By $0.72 EPS

Lockheed Martin (NYSE:LMT) posted its earnings results on Thursday. The aerospace company reported $7.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.72, Zacks reports. Lockheed Martin had a net margin of 6.38% and a return on equity of 101.64%. The firm had revenue of $20.06 billion during the quarter, compared to the consensus estimate of $19.34 billion. During the same quarter in the prior year, the company earned $1.46 EPS. The company’s revenue was up 10.5% on a year-over-year basis. Lockheed Martin updated its FY 2026 guidance to 29.950-30.650 EPS.

Here are the key takeaways from Lockheed Martin’s conference call:

• Lockheed Martin delivered a very strong quarter, with record backlog of $230 billion, about $2.9 billion in free cash flow, and 11% sales growth to $20.1 billion. Management said performance was strong enough to raise full-year 2026 guidance across sales, profit, EPS, cash flow, and capex.
• Demand for missiles and air defense remained exceptionally strong, highlighted by major awards including a $35 billion THAAD contract, a $3 billion GMLRS award, and a HIMARS deal worth up to $1.1 billion. The company said these programs are driving broad munitions capacity expansion and support long-term growth.
• Lockheed emphasized continued momentum in advanced defense technologies, including Golden Dome, hypersonics, directed energy lasers, and counter-drone systems such as Sanctum and MORFIUS. Management argued the company is increasingly able to prototype and field new capabilities quickly by combining existing systems in new ways.
• The company said its growth is broad-based across the portfolio, with improved outlooks for Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. However, Space profit guidance was lowered because of reduced ULA equity earnings tied to the Vulcan launch anomaly investigation.
• Management stressed that it is investing ahead of demand, including new factories, automation, AI-enabled manufacturing, and international co-production partnerships. It also pointed to continued capital deployment and the pending Ultra Maritime acquisition as signs it can fund growth while still returning cash to shareholders.

Lockheed Martin Trading Up 1.4%

Shares of NYSE LMT opened at $576.76 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.14 and a debt-to-equity ratio of 2.74. The stock’s 50 day moving average price is $522.45 and its two-hundred day moving average price is $573.14. Lockheed Martin has a 52-week low of $412.55 and a 52-week high of $692.00. The stock has a market capitalization of $132.98 billion, a P/E ratio of 27.58, a PEG ratio of 0.92 and a beta of 0.11.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $3.45 per share. The ex-dividend date is Tuesday, September 1st. This represents a $13.80 annualized dividend and a yield of 2.4%. Lockheed Martin’s dividend payout ratio is presently 66.83%.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors have recently made changes to their positions in LMT. United Financial Planning Group LLC bought a new position in Lockheed Martin during the third quarter worth $25,000. Triumph Capital Management increased its stake in Lockheed Martin by 66.7% during the fourth quarter. Triumph Capital Management now owns 55 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 22 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new stake in Lockheed Martin during the fourth quarter valued at $30,000. Wexford Capital LP acquired a new stake in shares of Lockheed Martin during the third quarter worth $36,000. Finally, Heritage Wealth Advisors lifted its position in shares of Lockheed Martin by 62.0% in the 4th quarter. Heritage Wealth Advisors now owns 81 shares of the aerospace company’s stock worth $39,000 after buying an additional 31 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin News Summary

Here are the key news stories impacting Lockheed Martin this week:

• Positive Sentiment: Lockheed Martin beat Q2 expectations with earnings of $7.94 per share and revenue of $20.06 billion, topping Wall Street estimates and showing 10.5% year-over-year revenue growth. Why Are Lockheed Martin (LMT) Shares Soaring Today
• Positive Sentiment: The company ended the quarter with a record $230 billion backlog, boosted by major defense awards including a $35 billion THAAD interceptor contract, giving investors confidence in long-term demand. Lockheed Martin Says Record Backlog Will Fuel Sales Growth ‘for Years to Come’
• Positive Sentiment: Lockheed Martin raised its 2026 sales and profit guidance, signaling management sees continued strength from Pentagon restocking and expanded munitions production. Lockheed Martin lifts 2026 forecasts as Pentagon seeks to restock weapons
• Neutral Sentiment: The company also announced a quarterly dividend of $3.45 per share, reinforcing its shareholder-return profile but not the main driver of the move. Lockheed Martin Declares Third Quarter 2026 Dividend

Analysts Set New Price Targets

Several brokerages have recently weighed in on LMT. Weiss Ratings downgraded Lockheed Martin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, July 17th. Royal Bank Of Canada cut their price target on Lockheed Martin from $650.00 to $575.00 and set a “sector perform” rating on the stock in a research note on Friday, April 24th. Bank of America lowered their price objective on Lockheed Martin from $660.00 to $600.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. TD Cowen dropped their price objective on Lockheed Martin from $600.00 to $560.00 and set a “hold” rating on the stock in a report on Monday, July 13th. Finally, Susquehanna cut their target price on Lockheed Martin from $740.00 to $700.00 and set a “positive” rating on the stock in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $617.83.

Lockheed Martin Company Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.