LMT

EX-99.1

2 ex991q32026.htm

EX-99.1

Document

Exhibit 99.1

News Release

Lockheed Martin Reports Third Quarter 2026 Financial Results

•Sales increased 11% to $20.7 billion

•Net earnings increased 14% to $1.8 billion, or $7.97 per share

•Cash from operations of $3.4 billion and free cash flow of $3.0 billion

•Record backlog of $292.0 billion, including $52.5 billion associated with the multi-year award to produce PAC-3 Missile Segment Enhancement (MSE) interceptors

•Updates 2026 financial outlook

BETHESDA, Md., Oct. 22, 2026 – Lockheed Martin Corporation [NYSE: LMT] today reported third quarter 2026 sales of $20.7 billion, compared to $18.6 billion in the third quarter of 2025. Net earnings in the third quarter of 2026 were $1.8 billion, or $7.97 per share, compared to $1.6 billion, or $6.95 per share. Cash from operations was $3.4 billion in the third quarter of 2026, compared to $3.7 billion in the third quarter of 2025. Free cash flow was $3.0 billion in the third quarter of 2026, compared to $3.3 billion in the third quarter of 2025. Backlog grew 27% since the second quarter of 2026, setting another new record at $292.0 billion.

“Our strong third quarter performance underscores Lockheed Martin’s continuing leadership in the development and delivery of advanced and reliable defense technology solutions. Every day, our research, engineering and production teams are putting highly effective and scalable capabilities in the field. We strive to improve mission performance on a continuous basis by combining proven systems like Aegis, F-35, and Hellfire with the latest digital technologies including AI and Autonomy. We are doing this by integrating our internal innovative solutions with those of start-ups, new entrants into our industry, and commercial technology leaders.” said Lockheed Martin Chairman, President and CEO Jim Taiclet.

“By pulling through our existing platforms and systems using innovations from multiple sources and with newly available digital technology, we can drive elevated growth in our financial performance as well. In the third quarter each of our four segments posted growth year-over-year, sales topped $20.7 billion and net earnings exceeded $1.8 billion, increases of 11% and 14% respectively. We delivered $3 billion of free cash flow in the quarter, and increased our backlog to a record $292 billion, allowing us to raise our dividend for the 24th year in a row. The sustained financial momentum across our portfolio gives us confidence to increase our outlook for sales, earnings per share and free cash flow, the second consecutive quarter we have raised our financial guidance.”

1

Summary Financial Results

(in millions, except per share data)Quarters Ended Nine Months Ended

Sept. 27, 2026Sept. 28, 2025Sept. 27, 2026Sept. 28, 2025

Sales$20,711 $18,609 $58,795 $54,727

Business segment operating profit1 $2,229 $2,029 $6,214 $4,685

Unallocated items

FAS/CAS pension operating adjustment421 380 1,264 1,138

Impairment and other charges— — — (66)

Intangible asset amortization expense(49)(70)(149)(197)

Other, net(158)(59)(344)(160)

Total unallocated items214 251 771 715

Consolidated operating profit$2,443 $2,280 $6,985 $5,400

Net earnings$1,845 $1,619 $5,169 $3,673

Diluted earnings per share$7.97 $6.95 $22.36 $15.69

Cash from operations$3,438 $3,728 $6,893 $5,338

Capital expenditures(439)(381)(1,268)(1,186)

Free cash flow1 $2,999 $3,347 $5,625 $4,152

1Business segment operating profit and free cash flow are non-GAAP measures. See the "Use of Non-GAAP Financial Measures" section of this news release for more information.

Sales: Third quarter 2026 sales increased $2.1 billion, or 11%, driven by growth in each of the company's four business segments.

Business Segment Operating Profit1: Third quarter 2026 business segment operating profit increased $200 million due to munition ramps at Missiles and Fire Control and higher volume at Aeronautics.

Net Earnings and Diluted EPS: Third quarter 2026 net earnings increased $226 million and diluted earnings per share increased $1.02 primarily due to higher consolidated operating profit of $163 million described above.

Cash Flows: Third quarter 2026 cash from operations decreased $290 million and free cash flows decreased $348 million primarily due to the higher customer receipts in the third quarter of 2025. The company's cash activities during the third quarter of 2026 included capital expenditures of $439 million and independent research and development of $599 million.

2

2026 Financial Outlook

The following guidance table contains forward-looking statements, which are based on the company's expectations at the time of this news release. Actual results may differ materially from those projected. It is the company's practice not to incorporate adjustments in its financial outlook for proposed acquisitions, divestitures, joint ventures, changes in tax laws, or special items until such items have been consummated or enacted. Refe

EX-99.1

2 ex991q22026.htm

EX-99.1

Document

Exhibit 99.1

News Release

Lockheed Martin Reports Second Quarter 2026 Financial Results

•Sales increase of 11% to $20.1 billion

•Net earnings of $1.8 billion, or $7.94 per share

•Cash from operations of $3.2 billion and free cash flow of $2.9 billion

•Record backlog of $230 billion, inclusive of the multi-year contract to produce THAAD interceptors

•Updates 2026 financial outlook

BETHESDA, Md., July 23, 2026 – Lockheed Martin Corporation [NYSE: LMT] today reported second quarter 2026 sales of $20.1 billion, compared to $18.2 billion in the second quarter of 2025. Net earnings in the second quarter of 2026 were $1.8 billion, or $7.94 per share, compared to $342 million, or $1.46 per share, including $1.6 billion of program losses and $169 million of other charges, in the second quarter of 2025. Cash from operations was $3.2 billion in the second quarter of 2026, compared to $201 million in the second quarter of 2025. Free cash flow was $2.9 billion in the second quarter of 2026, compared to $(150) million in the second quarter of 2025.

“We delivered strong second‑quarter performance, with over $20 billion in sales – a year‑over‑year increase of 11% – free cash flow of $2.9 billion, and $65 billion of new orders, which takes our backlog to a record $230 billion. This continued performance reflects more than just increased customer demand – it is evidence that our 21st Century Security strategy, and its focus on integration, partnerships and operational excellence is working, resulting in increased business, and advancing the security needs of our nation and allies. We are delivering on our strategy, achieving a higher trajectory for our business and giving us confidence to raise our full year financial guidance. We now anticipate accelerated year‑over‑year sales growth of approximately 8%, driving 28% higher segment operating profit, and increased free cash flow, now projected to be over $7 billion” said Lockheed Martin Chairman, President and CEO Jim Taiclet.

“These results are powered by consistent performance on the commitments we’ve made and by our investments to support the missions our customers will face next. Over the quarter, we took a major step forward in transforming munitions production, putting the framework agreements we announced earlier this year into action by signing a $35 billion multi-year contract with the Missile Defense Agency for THAAD. We continue to innovate at the speed our customers’ missions demand, taking our Sanctum counter-drone system from concept to successful live fire testing in just 45 days by combining a battle manager, radar, launcher, and combat-proven missile into one engagement chain. And, we are investing strategically to strengthen global defense manufacturing capabilities through our collaboration with General Motors Defense in the U.S. and our agreement with Rheinmetall to co-produce ATACMS in Europe.”

1

Summary Financial Results

(in millions, except per share data)Quarters Ended Six Months Ended

June 28, 2026June 29, 2025June 28, 2026June 29, 2025

Sales$20,063 $18,155 $38,084 $36,118

Business segment operating profit1 $2,162 $571 $3,985 $2,656

Unallocated items

FAS/CAS pension operating adjustment422 379 843 758

Impairment and other charges— (66)— (66)

Intangible asset amortization expense(50)(63)(100)(127)

Other, net2 (55)(73)(186)(101)

Total unallocated items317 177 557 464

Consolidated operating profit$2,479 $748 $4,542 $3,120

Net earnings$1,836 $342 $3,324 $2,054

Diluted earnings per share$7.94 $1.46 $14.38 $8.75

Cash from operations$3,235 $201 $3,455 $1,610

Capital expenditures(318)(351)(829)(805)

Free cash flow1 $2,917 $(150)$2,626 $805

1Business segment operating profit and free cash flow are non-GAAP measures. See the "Use of Non-GAAP Financial Measures" section of this news release for more information.

2 Other, net for the quarters ended June 28, 2026 and June 29, 2025 included net gains of $36 million ($27 million, or $0.12 per share, after-tax) and $18 million ($14 million,or $0.06 per share, after tax) due to changes in fair value of net assets and liabilities for deferred compensation plans.

Sales: Second quarter 2026 sales increased $1.9 billion, or 11%, driven by growth across all segments reflecting increased volume and munitions ramps.

Consolidated Operating Profit: Second quarter 2026 consolidated operating profit increased $1.7 billion largely driven by combined prior year reach-forward losses of $1.6 billion on a classified program at Aeronautics, and on the Canadian Maritime Helicopter Program (CMHP) and the Turkish Utility Helicopter Program (TUHP) at Rotary and Mission Systems; prior year write-off of $66 million for fixed assets; and a $43 million increase in the FAS/CAS operating adjustment.

Business Segment Operating Profit: Second quarter 2026 business segment operating profit increased $1.6 billion due to the prior year reach-forward losses described above

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.e618d017.1784334279.429ea909

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.