AI Earnings Predictions for Lockheed Martin Corporation (LMT)

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

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lmt-202601290000936468false00009364682026-01-292026-01-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 29, 2026

LOCKHEED MARTIN CORPORATION

(Exact name of registrant as specified in its charter) Maryland1-1143752-1893632 (State or other jurisdiction(Commission file number)(IRS Employer of incorporation) Identification No.)

6801 Rockledge Drive Bethesda, Maryland 20817 (Address of principal executive offices) (Zip Code)

(301) 897-6000 (Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading SymbolName of each exchange on which registered Common Stock, $1 par valueLMTNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On January 29, 2026, Lockheed Martin Corporation issued a news release reporting its financial results for the quarter and year ended December 31, 2025. A copy of the news release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Item 9.01 Financial Statements and Exhibits.

Exhibit No.Description

99.1Lockheed Martin Corporation News Release dated January 29, 2026 (earnings release reporting Lockheed Martin Corporation’s financial results for the quarter and year ended December 31, 2025).

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Lockheed Martin Corporation (Registrant)

Date: January 29, 2026By:/s/ H. Edward Paul III H. Edward Paul III Vice President and Controller