Overview
- Lockheed reported third‑quarter sales of $20.71 billion and profit of $1.85 billion driven by higher missile and aeronautics output.
- The company’s backlog rose 27% sequentially to a record $292 billion after a $52.5 billion multi‑year PAC‑3 Missile Segment Enhancement award.
- Lockheed raised its 2026 guidance to about $80 billion–$82 billion in sales and increased its EPS range and free‑cash‑flow forecast to roughly $7.8 billion–$8 billion.
- Company executives said they remain in active negotiations with the U.S. government over authorization and funding for F‑35 Lots 20 and higher, a dispute that could constrain future production and cash flow if unresolved.
- Other major defense contractors have also lifted forecasts as demand for interceptors, munitions, and military aircraft grows, a trend that will press supply chains, workforce needs, and allied stockpiles.