Slide 1: 1st Quarter 2025 Conference Call
1st Quarter 2025 Conference Call April 22, 2025 Webcast login at: www.lockheedmartin.com/investor Webcast replay & podcast available by 2:00 p.m. ET April 22, 2025 at: www.lockheedmartin.com/investor James D. Taiclet Evan Scott Maria Ricciardone Audio replay available from 2:00 p.m. ET Chairman, Pre
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains statements that, to the extent they are not recitations of historical fact, constitute forward-looking statements within the meaning of the federal securities laws, and are based on Lockheed Martin’s current expectations and assumptions. The word
Slide 3: 1Q25: Building Momentum with Focus on Operational Excellence
1Q25: Building Momentum with Focus on Operational Excellence Solid Financial Results Sales Growth of 4% with Strong Segment Operating Profit & Margins Committed to 21st Century Strategic Vision Investments & Partnerships to Accelerate Technology Roadmaps Focused on Operational Transformation 1LMX an
Slide 4: 1Q25: Delivering Strong Results and Shareholder Returns
1Q25: Delivering Strong Results and Shareholder Returns $18.0B $2.1B 11.6% Sales Segment Operating Profit* Segment Operating Margin* $7.28 0.8x $1.0B Earnings Per Share Book-to-Bill Ratio* Delivered in Free Cash Flow* $0.9B $0.8B $0.8B of Independent Research of Share Repurchases in Dividends & Deve
Slide 5: Aeronautics
F-35 Surpasses Aeronautics One Million Flight Hours 1st Quarter ($M) Sales Operating Profit* $7,057 $6,845 $720 $679 9.9% 10.2% 2024 2025 2024 2025 Sales: Increased 3% Operating Profit: Increased 6% Higher volume on F-35, primarily production Higher volume on F-35 and higher profit booking contracts
Slide 6: Missiles & Fire Control
Common Multi-Mission Truck Missiles & Fire Control (CMMT, aka Comet) 1st Quarter ($M) Sales Operating Profit* $3,373 $2,993 $465 $311 13.8% 10.4% 2024 2025 2024 2025 Sales: Increased 13% Operating Profit: Increased 50% Higher volume on multiple TSM programs, Higher volume and higher profit booking r
Slide 7: Rotary & Mission Systems
Rotary & Mission Systems C-UAS Demo 1st Quarter ($M) Sales Operating Profit* $4,088 $4,328 $521 $430 12.0% 10.5% 2024 2025 2024 2025 Sales: Increased 6% Operating Profit: Increased 21% Higher volume on CSC and Radar programs Higher volume, higher profit booking rate within IWSS, and higher volume on
Slide 8: Space
Space LM 400 Launch 1st Quarter ($M) Sales Operating Profit* $3,269 $3,205 $379 $325 11.8% 9.9% 2024 2025 2024 2025 Sales: Decreased 2% Operating Profit: Increased 17% Lower volume at NSS - primarily OPIR, partially Higher profit booking rate adjustments, primarily offset by higher volume at CCS rel
Slide 9: 2025 Outlook
2025 Outlook** 2025 ($M), Except for EPS Guidance Range Sales $73,750 - $74,750 YoY Growth +4% - +5% Segment Operating Profit* $8,100 - $8,200 Total FAS/CAS Pension Adjustment ~$1,125 Diluted EPS $27.00 - $27.30 Cash from Operations $8,500 - $8,700 Capital Expenditures ~$1,900 Free Cash Flow* $6,600
Slide 10: Summary
Summary Solid Financial Results to Start the Year Prioritizing Resources to Execute Backlog & Deliver Commitments Building Momentum to Deliver 2025 Financial Outlook Focused on Creating Long-Term Value for Customers & Shareholders 10
Slide 11: Lockheed Martin
LOCKHEED MARTING
Slide 12: Definitions of Non-GAAP Measures
Definitions of Non-GAAP Measures Non-GAAP Financial Measures Disclosure This presentation, and today’s conference call remarks, contain non-Generally Accepted Accounting Principles (GAAP) financial measures (as defined by SEC Regulation G). While management believes that these non-GAAP financial mea
Slide 13: Definitions of Non-GAAP Measures
Definitions of Non-GAAP Measures Adjusted net sales; adjusted business segment operating profit; adjusted net earnings; adjusted diluted earnings per share (EPS); adjusted cash from operations; adjusted free cash flow (non-GAAP) Adjusted net sales, adjusted business segment operating profit, adjuste
Slide 14: Appendix I – Guidance Detail
Appendix I – Guidance Detail*** 2025 Outlook ($M), Except for EPS Sales $73,750 - $74,750 Segment Operating Profit* $8,100 - $8,200 Segment Margin* 11.0% FAS/CAS Operating Adjustment** ~$1,520 Other, net ~($705) Consolidated Operating Profit $8,915 - 9,015 Net-Operating FAS Pension Income** ~($395)
Slide 15: Appendix II – Business Area Guidance
Appendix II – Business Area Guidance** Segment ($M) Sales Operating Profit* AERO $29,300 – 29,700 $2,920 – 2,960 MFC $13,600 – 13,900 $1,905 – 1,935 RMS $18,100 – 18,300 $2,040 – 2,060 SPACE $12,750 – 12,850 $1,235 – 1,245 LM Total $73,750 – 74,750 $8,100 – 8,200 *See Charts 12-13 for Definitions of
Slide 16: Appendix III - Pension
Appendix III - Pension 16 *See Chart 17 for Acronyms
Slide 17: Appendix IV – Acronyms
Appendix IV Acronyms GAAP – Generally Accepted Accounting Principles IWSS – Integrated Warfare Systems & Sensors EPS – Earnings per Share C6ISR – Command, Control, Communications, Computers, FAS – Financial Accounting Standards Cyber, Combat Systems, Intelligence, Surveillance & Reconnaissance CAS –