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Company research9 Dec 2024
Rocket Lab: Breaking Ground in Space
Rocket Lab has been one of the pioneers in the commercial aerospace industry, with numerous satellite launches and space system applications.
Lockheed Martin
Lockheed Martin (LMT) investor relations material
Lockheed Martin Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary22 Oct, 2026
Executive summary
Q3 sales rose 11% YoY to $20.711B; net earnings increased 14% to $1.845B and diluted EPS rose 15% to $7.97.
Record backlog reached $291.984B, supported by a $52.5B multiyear PAC-3 MSE award; growth reflected higher volume across all four segments.
Financial highlights
Q3 segment operating profit was $2.229B versus $2.029B a year earlier; consolidated operating profit was $2.443B versus $2.280B.
Q3 cash from operations was $3.438B and free cash flow was $2.999B; year-to-date totals were $6.893B and $5.625B, respectively.
Nine-month sales increased to $58.795B from $54.727B; net earnings were $5.169B versus $3.673B, and diluted EPS was $22.36 versus $15.69.
Outlook and guidance
FY 2026 sales guidance rose to $80B–$82B and segment operating profit guidance is $8.575B–$8.675B; diluted EPS guidance increased to $30.35–$30.75.
Cash from operations guidance rose to $10B–$10.2B and free cash flow to $7.8B–$8B; capital expenditures guidance is $2.1B–$2.3B.
FY 2027 outlook was not formally issued; management expects growth across all four segments and sees line of sight to high-single-digit revenue growth, with pension contributions expected to exceed $1B.
FY 2026 guidance excludes Ultra Maritime, whose acquisition is expected to close in Q4 and be funded with cash on hand.
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Latest events from Lockheed Martin
- Mission integration and munitions expansion are driving investment, capacity and future defense capabilities.LMT
Morgan Stanley's 14th Annual Laguna Conference - Q2 2026 sales up 10–11%, net earnings $1.8B, backlog $230B+, and guidance raised.LMTQ2 2026
- Focus on efficiency, digital transformation, and enduring value of manned platforms for deterrence.LMTCiti’s 2025 Global Industrial Tech and Mobility Conference
- $75B sales, record backlog, and growth in hypersonics and AI-enabled defense systems.LMTCorporate presentation
- Missiles and Fire Control and space segments drive growth, supported by innovation and global partnerships.LMTBernstein 42nd Annual Strategic Decisions Conference
- Director elections, executive pay, and auditor ratification passed; governance proposal failed.LMTAGM 2026
- Q3 2025 saw strong sales, record backlog, and raised guidance amid ongoing risk factors.LMTQ3 2025
- Digital transformation and global expansion drive growth amid budget and supply chain risks.LMTJ.P. Morgan Industrials Conference 2025
- Record $176B backlog and 5% sales growth set up strong 2025 outlook despite $2B in charges.LMTQ4 2024
Next Lockheed Martin earnings date
Q4 202626 Jan, 2027
Lockheed Martin
Next Lockheed Martin earnings date
Q4 202626 Jan, 2027
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Frequently asked questions
One of the main actors in the defense industry
Lockheed Martin is undoubtedly one of the main actors in the defense industry. As one of the world’s largest and most well-diversified defense contractors they produce fighter jets, warfare electronics, hypersonics, space and satellite systems, and more. Some of Lockheed Martin’s competitors include Saab, Boeing, and BAE Systems.
The main business areas
With over 114,000 employees spread over more than 370 global facilities, the company operates in four main business areas: Aeronautics, Including tactical aircraft and aeronautical R&D. Missiles and Fire Control, including PAC-3 missiles and the terminal high altitude area defense system. Rotary and Mission Systems, with Sikorsky helicopters, maritime and radar systems, and cyber capabilities. And then Space, including development of commercial and government satellites, as well as deep space exploration.
Long-stretching contracts
With a majority of its customer base consisting of the U.S. Department of Defense and U.S. federal government agencies, their programs are blessed with long-stretching contracts. As a reference of their contractual backlog and recurring revenue, the company's iconic F-35 fighter jet first flew in 2006, and is scheduled to stay in service until year 2070.
Fun fact: if you’ve seen the latest Top Gun: Maverick movie, the hypersonic jet in the opening scene codenamed “Darkstar,” is actually based on the Lockheed Martin SR-52.