LMT
FY2026 Q2 · Calendar Q3 2026
Lockheed Martin Corporation
Lockheed Martin's Q2 2026 results mark an inflection point for the franchise. The company beat consensus on both the top and bottom lines, posted a record $230 billion backlog, and raised full-year 2026 guidance across revenue, operating profit, and free cash flow — a shift from the maintained stance held through Q1. The strategic portfolio broadened meaningfully with the Ultra Maritime acquisition (undersea sensing and autonomous sea-drone capabilities) and a partnership with General Motors Defense to apply automotive-grade high-rate manufacturing to defense production. The 10.5% market move, against a declining broader market, signals investor recognition that multiyear munitions demand, F-35 sustainment, and capacity expansion are translating into durable earnings power rather than a single-quarter beat.
EPS surprise+10.0%
Market move+10.5%
