Lockheed Martin (LMT) official guidance
Lockheed Martin (LMT) official earnings guidance and management outlook. Each figure management stated is shown with its revisions and the source quote.
See the full Filings Intelligence suiteLMTLOCKHEED MARTIN CORPFY2026 · ends 2026-12-31
7 metrics4 raised1 lowered2 maintainedearnings call · 19d
2026-10-22 14:02:01 UTC$7.8B – $8Bmaintained
We now anticipate cash from operations between $10 billion and $10.2 billion, and free cash flow between $7.8 billion and $8 billion.
LMT · transcript · Q3 FY2026
2026-10-22 14:01:00 UTCOpen source
2026-10-22 10:27:40 UTC$7.8B – $8Braised +11.3%
| | Free cash flow1 | ~$7,800 - $8,000 | $7,000 - $7,200 |
LMT · EX-99.1 · Q3 FY2026
2026-10-22 10:26:08 UTCOpen source
2026-07-23 10:31:36 UTC$7B – $7.2Braised +6.8%
| | Free cash flow1 | ~$7,000 - $7,200 | $6,500 - $6,800 |
LMT · EX-99.1 · Q2 FY2026
2026-07-23 10:30:57 UTCOpen source
2026-04-24 04:01:11 UTC$6.5B – $6.8Bmaintained
Shifting to chart nine, our 2026 financial outlook remains consistent with the expectations we shared in January, including mid-single-digit% sales growth, profit of $8.4 billion-$8.7 billion, and free cash flow range of $6.5 billion-$6.8 billion.
LMT · transcript · Q1 FY2026
2026-04-24 04:00:00 UTCOpen source
2026-04-23 10:36:56 UTC$6.5B – $6.8Bmaintained
| | Free cash flow1 | $6,500 - $6,800 |
LMT · EX-99.1 · Q1 FY2026
2026-04-23 10:36:10 UTCOpen source
2026-01-30 05:01:16 UTC$6.5B – $6.8Bmaintained
Wrapping up with cash, our free cash flow guidance is $6.5 billion-$6.8 billion. That estimate includes between $2.5 billion and $2.8 billion of capital expenditures as we are planning to increase our investment to support production ramps and other strategic growth opportunities.
LMT · transcript · Q4 FY2025
2026-01-30 05:00:00 UTCOpen source
2026-01-29 12:26:12 UTC$6.5B – $6.8Bnew
| | Free cash flow1 | $6,500 - $6,800 |
LMT · EX-99.1 · Q4 FY2025
2026-01-29 12:25:24 UTCOpen source
2026-10-22 14:02:01 UTC$10B – $10.2Bmaintained16.9% – 19.2% vs FY2025
We now anticipate cash from operations between $10 billion and $10.2 billion, and free cash flow between $7.8 billion and $8 billion.
LMT · transcript · Q3 FY2026
2026-10-22 14:01:00 UTCOpen source
2026-10-22 10:27:40 UTC$10B – $10.2Braised +8.6%16.9% – 19.2% vs FY2025
| | Cash from operations | ~$10,000 - $10,200 | $9,200 - $9,400 |
LMT · EX-99.1 · Q3 FY2026
2026-10-22 10:26:08 UTCOpen source
2026-07-23 10:31:36 UTC$9.2B – $9.4Bmaintained7.5% – 9.9% vs FY2025
| | Cash from operations | ~$9,200 - $9,400 | $9,150 - $9,450 |
LMT · EX-99.1 · Q2 FY2026
2026-07-23 10:30:57 UTCOpen source
2026-04-23 10:36:56 UTC$9.2B – $9.4Bmaintained6.9% – 10.4% vs FY2025
| | Cash from operations | $9,150 - $9,450 |
LMT · EX-99.1 · Q1 FY2026
2026-04-23 10:36:10 UTCOpen source
2026-01-29 12:26:12 UTC$9.2B – $9.4Bnew
| | Cash from operations | $9,150 - $9,450 |
LMT · EX-99.1 · Q4 FY2025
2026-01-29 12:25:24 UTCOpen source
2026-10-22 14:02:01 UTC$2.9B – $3Blowered -3.5%
We now project Aero to deliver full year 2026 sales of $31.1 billion-$32.5 billion and profits between $2.92 billion and $2.95 billion, slightly lower than our July guidance, driven by revised contract award timing expectations for the next lots of F-35.
LMT · transcript · Q3 FY2026
2026-10-22 14:01:00 UTCOpen source
2026-07-24 04:01:47 UTC$3B – $3.1Bnew
The higher sales volume pushes the profit outlook up to between $3 billion and $3.08 billion.
LMT · transcript · Q2 FY2026
2026-07-24 04:00:00 UTCOpen source
2026-10-22 14:02:01 UTC$2.4B – $2.4Braised +3.7%
MFC's sales range is increased to between $17.25 billion and $17.45 billion, and the profit range is moved up to between $2.395 billion and $2.425 billion.
LMT · transcript · Q3 FY2026
2026-10-22 14:01:00 UTCOpen source
2026-07-24 04:01:47 UTC$2.3B – $2.4Bnew
The profit range is now $2.3 billion-$2.35 billion, reflecting continued mid-teens margin performance.
LMT · transcript · Q2 FY2026
2026-07-24 04:00:00 UTCOpen source
2026-10-22 14:02:01 UTC$1.9B – $1.9Braised +0.8%
The RMS segment operating profit outlook is increased to between $1.88 billion and $1.9 billion.
LMT · transcript · Q3 FY2026
2026-10-22 14:01:00 UTCOpen source
2026-07-24 04:01:47 UTC$1.9B – $1.9Bnew
The profit outlook at RMS is also raised and is now between $1.86 billion and $1.89 billion, keeping margins steady relative to the prior outlook.
LMT · transcript · Q2 FY2026
2026-07-24 04:00:00 UTCOpen source
2026-10-22 14:02:01 UTC$1.4B – $1.4Braised +2.2%
Full year profit expectations are increased to between $1.38 billion and $1.4 billion.
LMT · transcript · Q3 FY2026
2026-10-22 14:01:00 UTCOpen source
2026-07-24 04:01:47 UTC$1.3B – $1.4Bnew
The Space full year profit outlook was lowered to between $1.34 billion and $1.38 billion due to reduced ULA equity earnings because of the ongoing technical investigation of the Vulcan launch anomaly experienced earlier this year.
LMT · transcript · Q2 FY2026
2026-07-24 04:00:00 UTCOpen source
2026-10-22 14:02:01 UTC$8.6B – $8.7Braised +0.3%10.9% – 12.2% vs FY2025
We expect segment operating profit of between $8.575 billion and $8.675 billion, also up from the prior outlook.
LMT · transcript · Q3 FY2026
2026-10-22 14:01:00 UTCOpen source
2026-07-24 04:01:47 UTC$8.5B – $8.7Braised +0.6%9.9% – 12.5% vs FY2025
Correspondingly, we are increasing our segment operating profit target to now $8.5 billion-$8.7 billion.
LMT · transcript · Q2 FY2026
2026-07-24 04:00:00 UTCOpen source
2026-04-24 04:01:11 UTC$8.4B – $8.7Bmaintained8.7% – 12.5% vs FY2025
Shifting to chart nine, our 2026 financial outlook remains consistent with the expectations we shared in January, including mid-single-digit% sales growth, profit of $8.4 billion-$8.7 billion, and free cash flow range of $6.5 billion-$6.8 billion.
LMT · transcript · Q1 FY2026
2026-04-24 04:00:00 UTCOpen source
2026-01-30 05:01:16 UTC$8.4B – $8.7Bnew9% – 12.2% vs FY2025
Segment operating profit is anticipated to be in the range of $8.425 billion-$8.675 billion, resulting in a midpoint margin of 10.9%.
LMT · transcript · Q4 FY2025
2026-01-30 05:00:00 UTCOpen source
LMTLOCKHEED MARTIN CORPFY2027 · ends 2027-12-31
1 metricearnings call · 19d
2026-10-22 14:02:01 UTCat least $1B
And we have talked about a pension contribution in excess of $1 billion to be required next year.
LMT · transcript · Q3 FY2026
2026-10-22 14:01:00 UTCOpen source
2026-01-30 05:01:16 UTCat least $1Bnew
That requirement does come back in starting in 2027, of at least $1 billion, depending on how we look in terms of pension performance this year.
LMT · transcript · Q4 FY2025
2026-01-30 05:00:00 UTCOpen source
LMTLOCKHEED MARTIN CORPFY2026 · ends 2026-12-31
5 metrics2 raised2 lowered1 maintainedearnings call · 19d
2026-10-22 14:02:01 UTC$31.1B – $32.5Blowered -1.2%
We now project Aero to deliver full year 2026 sales of $31.1 billion-$32.5 billion and profits between $2.92 billion and $2.95 billion, slightly lower than our July guidance, driven by revised contract award timing expectations for the next lots of F-35.
LMT · transcript · Q3 FY2026
2026-10-22 14:01:00 UTCOpen source
2026-07-24 04:01:47 UTC$31.7B – $32.7Bnew
We now project Aeronautics to deliver full-year 2026 sales of $31.7 billion-$32.7 billion, driven by strong F-35 production and sustainment volumes.
LMT · transcript · Q2 FY2026
2026-07-24 04:00:00 UTCOpen source
2026-10-22 14:02:01 UTC$17.3B – $17.4Braised +3.9%
MFC's sales range is increased to between $17.25 billion and $17.45 billion, and the profit range is moved up to between $2.395 billion and $2.425 billion.
LMT · transcript · Q3 FY2026
2026-10-22 14:01:00 UTCOpen source
2026-07-24 04:01:47 UTC$16.5B – $16.9Bnew
MFC's sales range has been adjusted to $16.5 billion-$16.9 billion, lifting the low end of our prior guidance.
LMT · transcript · Q2 FY2026
2026-07-24 04:00:00 UTCOpen source
2026-10-22 14:02:01 UTC$17.7B – $18Blowered -0.3%
We expect RMS 2026 sales to finish between $17.7 billion and $18 billion, growing in the low single digits year-over-year.
LMT · transcript · Q3 FY2026
2026-10-22 14:01:00 UTCOpen source
2026-07-24 04:01:47 UTC$17.7B – $18.1Bnew
At RMS, the new radar awards Jim and Evan mentioned give us confidence to increase the full-year sales outlook to between $17.7 billion and $18.1 billion.
LMT · transcript · Q2 FY2026
2026-07-24 04:00:00 UTCOpen source
2026-10-22 14:02:01 UTC$13.9B – $14.1Braised +0.4%
We anticipate 2026 sales in our space segment will grow between 7% and 8% year-over-year to between $13.95 billion and $14.05 billion.
LMT · transcript · Q3 FY2026
2026-10-22 14:01:00 UTCOpen source
2026-07-24 04:01:47 UTC$13.8B – $14.1Bnew
We now anticipate 2026 sales of between $13.85 billion and $14.05 billion, supported by key wins on the Next Generation Interceptor, Fleet Ballistic Missile, and several classified national security programs.
LMT · transcript · Q2 FY2026
2026-07-24 04:00:00 UTCOpen source
2026-10-22 14:02:01 UTC$80B – $82Bmaintained6.6% – 9.3% vs FY2025
We now expect sales of between $80 billion-$82 billion, up from our previous range, representing full year growth of approximately 8% at the midpoint.
LMT · transcript · Q3 FY2026
2026-10-22 14:01:00 UTCOpen source
2026-10-22 10:27:40 UTC$80B – $82Braised +0.3%6.6% – 9.3% vs FY2025
| | Sales | ~$80,000 - $82,000 | $79,750 - $81,750 |
LMT · EX-99.1 · Q3 FY2026
2026-10-22 10:26:08 UTCOpen source
2026-07-24 04:01:47 UTC$79.8B – $81.8Bmaintained6.3% – 8.9% vs FY2025
We now expect total sales of $79.75 billion-$81.75 billion, representing an 8% year-over-year increase at the midpoint, up from the prior 5% guidance.
LMT · transcript · Q2 FY2026
2026-07-24 04:00:00 UTCOpen source
2026-07-23 10:31:36 UTC$79.8B – $81.8Braised +2.5%6.3% – 8.9% vs FY2025
| | Sales | ~$79,750 - $81,750 | $77,500 - $80,000 |
LMT · EX-99.1 · Q2 FY2026
2026-07-23 10:30:57 UTCOpen source
2026-04-23 10:36:56 UTC$77.5B – $80Bmaintained3.3% – 6.6% vs FY2025
| | Sales | $77,500 - $80,000 |
LMT · EX-99.1 · Q1 FY2026
2026-04-23 10:36:10 UTCOpen source
2026-01-30 05:01:16 UTC$77.5B – $80Bmaintained3.3% – 6.6% vs FY2025
In 2026, we are forecasting sales to be in the range of $77.5 billion-$80 billion, up $3.7 billion at the midpoint, applying a solid 5% organic growth year over year.
LMT · transcript · Q4 FY2025
2026-01-30 05:00:00 UTCOpen source
2026-01-29 12:26:12 UTC$77.5B – $80Bnew
| | Sales | $77,500 - $80,000 |
LMT · EX-99.1 · Q4 FY2025
2026-01-29 12:25:24 UTCOpen source
LMTLOCKHEED MARTIN CORPFY2027 · ends 2027-12-31
1 metric1 newearnings call · 19d
2026-10-22 14:02:01 UTChigh single-digit revenue growth next yearnew7% – 9% vs FY2026
However, we are comfortable saying that we see all four segments growing next year on a top-line basis with the strength of our backlog and demand. And really, when you put it all together, we see clear line of sight to high single-digit revenue growth next year as a company.
LMT · transcript · Q3 FY2026
2026-10-22 14:01:00 UTCOpen source
LMTLOCKHEED MARTIN CORPFY2026 · ends 2026-12-31
6 metrics3 raised2 new1 maintainedearnings release · 19d
2026-10-22 10:27:40 UTC$200Mnew
| | Intangible asset amortization expense | ~(200) | ~(200) |
LMT · EX-99.1 · Q3 FY2026
2026-10-22 10:26:08 UTCOpen source
2026-10-22 10:27:40 UTC$2.1B – $2.3Bmaintained27.3% – 39.5% vs FY2025
| | Capital expenditures | ~$2,100 - $2,300 | $2,000 - $2,400 |
LMT · EX-99.1 · Q3 FY2026
2026-10-22 10:26:08 UTCOpen source
2026-07-24 04:01:47 UTC$2B – $2.4Bmaintained21.3% – 45.5% vs FY2025
We are also updating our capital expenditure guidance to a range of $2 billion-$2.4 billion, reflecting efficiencies realized in Missiles and Fire Control's munitions build-out.
LMT · transcript · Q2 FY2026
2026-07-24 04:00:00 UTCOpen source
2026-07-23 10:31:36 UTC$2B – $2.4Blowered -17.0%21.3% – 45.5% vs FY2025
| | Capital expenditures | ~$2,000 - $2,400 | $2,500 - $2,800 |
LMT · EX-99.1 · Q2 FY2026
2026-07-23 10:30:57 UTCOpen source
2026-04-24 04:01:11 UTC$2.5B – $2.8Bmaintained51.6% – 69.8% vs FY2025
Our free cash flow guide continues to assume between $2.5 billion-$2.8 billion of capital expenditures in support of production ramps and key strategic growth opportunities.
LMT · transcript · Q1 FY2026
2026-04-24 04:00:00 UTCOpen source
2026-04-23 10:36:56 UTC$2.5B – $2.8Bmaintained51.6% – 69.8% vs FY2025
| | Capital expenditures | $2,500 - $2,800 |
LMT · EX-99.1 · Q1 FY2026
2026-04-23 10:36:10 UTCOpen source
2026-01-30 05:01:16 UTC$2.5B – $2.8Bmaintained51.6% – 69.8% vs FY2025
That estimate includes between $2.5 billion and $2.8 billion of capital expenditures as we are planning to increase our investment to support production ramps and other strategic growth opportunities.
LMT · transcript · Q4 FY2025
2026-01-30 05:00:00 UTCOpen source
2026-01-29 12:26:12 UTC$2.5B – $2.8Bnew
| | Capital expenditures | $2,500 - $2,800 |
LMT · EX-99.1 · Q4 FY2025
2026-01-29 12:25:24 UTCOpen source
2026-10-22 10:27:40 UTC$30.35 – $30.75raised +0.8%41.2% – 43.1% vs FY2025
| | Diluted earnings per share | ~$30.35 - $30.75 | $29.95 - $30.65 |
LMT · EX-99.1 · Q3 FY2026
2026-10-22 10:26:08 UTCOpen source
2026-07-24 04:01:47 UTC$29.95 – $30.65maintained39.4% – 42.6% vs FY2025
Earnings per share is now projected at $29.95-$30.65, driven by higher year-to-date profits and a lower effective tax rate.
LMT · transcript · Q2 FY2026
2026-07-24 04:00:00 UTCOpen source
2026-07-23 10:31:36 UTC$29.95 – $30.65raised +1.7%39.4% – 42.6% vs FY2025
| | Diluted earnings per share | ~$29.95 - $30.65 | $29.35 - $30.25 |
LMT · EX-99.1 · Q2 FY2026
2026-07-23 10:30:57 UTCOpen source
2026-04-23 10:36:56 UTC$29.35 – $30.25maintained36.6% – 40.8% vs FY2025
| | Diluted earnings per share | $29.35 - $30.25 |
LMT · EX-99.1 · Q1 FY2026
2026-04-23 10:36:10 UTCOpen source
2026-01-30 05:01:16 UTC$29.35 – $30.25maintained36.6% – 40.8% vs FY2025
On earnings per share, we project a range of $29.35-$30.25.
LMT · transcript · Q4 FY2025
2026-01-30 05:00:00 UTCOpen source
2026-01-29 12:26:12 UTC$29.35 – $30.25new
| | Diluted earnings per share | $29.35 - $30.25 |
LMT · EX-99.1 · Q4 FY2025
2026-01-29 12:25:24 UTCOpen source
2026-10-22 10:27:40 UTC$9.5B – $9.6Braised +0.1%23.1% – 24.4% vs FY2025
| | Consolidated operating profit (GAAP) | ~$9,520 - $9,620 | $9,495 - $9,695 |
LMT · EX-99.1 · Q3 FY2026
2026-10-22 10:26:08 UTCOpen source
2026-04-23 10:36:56 UTC$9.4B – $9.7Bmaintained22% – 25.3% vs FY2025
| | Consolidated operating profit (GAAP) | $9,435 - $9,685 |
LMT · EX-99.1 · Q1 FY2026
2026-04-23 10:36:10 UTCOpen source
2026-01-29 12:26:12 UTC$9.4B – $9.7Bnew
| | Consolidated operating profit (GAAP) | $9,435 - $9,685 |
LMT · EX-99.1 · Q4 FY2025
2026-01-29 12:25:24 UTCOpen source
2026-10-22 10:27:40 UTC$8.6B – $8.7Braised +0.3%
| | Business segment operating profit1 | ~$8,575 - $8,675 | $8,500 - $8,700 |
LMT · EX-99.1 · Q3 FY2026
2026-10-22 10:26:08 UTCOpen source
2026-07-23 10:31:36 UTC$8.5B – $8.7Braised +0.6%
| | Business segment operating profit1 | ~$8,500 - $8,700 | $8,425 - $8,675 |
LMT · EX-99.1 · Q2 FY2026
2026-07-23 10:30:57 UTCOpen source
2026-04-23 10:36:56 UTC$8.4B – $8.7Bmaintained
| | Business segment operating profit1 | $8,425 - $8,675 |
LMT · EX-99.1 · Q1 FY2026
2026-04-23 10:36:10 UTCOpen source
2026-01-29 12:26:12 UTC$8.4B – $8.7Bnew
| | Business segment operating profit1 | $8,425 - $8,675 |
LMT · EX-99.1 · Q4 FY2025
2026-01-29 12:25:24 UTCOpen source
2026-10-22 10:27:40 UTC-$540Mnew
| | Other, net | ~(540) | ~(490) |
LMT · EX-99.1 · Q3 FY2026
2026-10-22 10:26:08 UTCOpen source