Lockheed Martin Corporation · NYSE:LMT
Lockheed Martin — Q3 2026 Earnings Presentation
15 slides from Lockheed Martin's earnings presentation, Oct 22, 2026
Slide 1: Third Quarter 2026 Earnings Conference Call
Third Quarter 2026 Earnings Conference Call OCTOBER 22, 2026 James D. Taiclet Evan T. Scott Mark D. Kvasnak Chairman, President and CEO Chief Financial Officer Vice President, Investor Relations
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation and today’s earnings call remarks contain 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 expec
Slide 3: Q3 2026 Financial Highlights
Q3 2026 Financial Highlights $292B 4x Backlog Book-to-Bill Ratio* $20.7B $2.2B 10.8% Sales Segment Operating Profit* Segment Operating Margin* +11% Year-over-Year $7.97 $3B $2.9B $2.4B Earnings Per Share Free Cash Flow* Year-to-Date Capital Year-to-Date Dividends Paid Expenditures and +15% Year-over
Slide 4: 2026 Outlook
2026 Outlook ($M), EXCEPT FOR EPS JULY GUIDANCE OCTOBER GUIDANCE MIDPOINT ∆ Sales $79,750 - $81,750 $80,000 - $82,000 +$250 Segment Operating Profit* 8,500 - 8,700 8,575 - 8,675 +25 Total FAS / CAS Pension Adjustment ~1,365 ~1,365 Diluted EPS ~29.95 - 30.65 ~30.35 – 30.75 +0.25 Cash From Operations
Slide 5: Aeronautics
Aeronautics Q3 RESULTS ($M) FULL YEAR ($M) Sales Operating Profit* Sales Operating Profit* $32,500 To $8,214 $31,100 $30,257 $7,256 $2,950 To $743 $2,920 $682 $2,086 2025 2026 October O/L 2025 2026 October O/L 2025 2026 2025 2026 Range Range Sales +13% Sales +3 to 7% • Higher F-35 production & susta
Slide 6: Missiles & Fire Control
Missiles & Fire Control Q3 RESULTS ($M) FULL YEAR ($M) Sales Operating Profit* Sales Operating Profit* $17,450 To $17,250 $4,501 $14,450 $3,624 $2,425 To $631 $510 $2,395 $1,989 2025 2026 2025 2026 2025 2026 October O/L 2025 2026 October O/L Range Range Sales +24% Sales +19% to 21% • Higher PAC-3, T
Slide 7: Rotary & Mission Systems
Rotary & Mission Systems Q3 RESULTS ($M) FULL YEAR ($M) Sales Operating Profit* Sales Operating Profit* $18,000 To $17,312 $17,700 $4,373 $4,511 $1,900 To $524 $1,880 $506 $1,323 2025 2026 2025 2026 2025 2026 October 2025 2026 October O/L Range O/L Range Sales +3% Sales +2 to 4% • Higher radar and C
Slide 8: Space
Space Q3 RESULTS ($M) FULL YEAR ($M) Sales Operating Profit* Sales Operating Profit* $14,050 To $13,950 $3,356 $3,485 $13,029 $1,400 To $1,345 $1,380 $331 $331 2025 2026 2025 2026 October 2025 2026 2025 2026 October O/L Range O/L Range Sales +4% Sales +7 to 8% • Higher NGI & FBM volume • Higher NGI
Slide 9: Summary
Summary DEFENSE TECHNOLOGY LEADER • Integrating platforms, autonomous systems and AI-enabled command & control across every domain • Bringing together the best available technologies to deliver capability at the pace of the threat INNOVATION AT SPEED • Advancing AI and autonomy from Vectis and AI pi
Slide 10: Lockheed Martin
LOCKHEED MARTINZ
Slide 11: Appendix I: 2026 Segment Outlook Details
Appendix I: 2026 Segment Outlook Details 2026 OUTLOOK ($M) 2026 OUTLOOK ($M) JULY SALES SEGMENT OCTOBER SALES SEGMENT GUIDANCE OPERATING PROFIT* GUIDANCE OPERATING PROFIT* AERO $31,700 – $32,700 $3,000 – $3,080 AERO $31,100 – $32,500 $2,920 – 2,950 MFC 16,500 – 16,900 2,300 – 2,350 MFC 17,250 – 17,4
Slide 12: Appendix II: Definitions of Non-GAAP Measures and Other Performance Metrics
Appendix II: Definitions of Non-GAAP Measures and Other Performance Metrics Non-GAAP Financial Measures Disclosure This presentation, and today’s conference call remarks, contain non-Generally Accepted Accounting Principles (GAAP) financial measures (as defined by SEC Regulation G). While management
Slide 13: Appendix III
Appendix III Pension ($M) 2025 Actual 2026 Outlook Total FAS Expense and CAS Cost FAS Pension Expense $ (924) $ (370) Less: CAS Pension Cost 1,568 1,735 Net FAS/CAS Pension Adjustment $ 644 $ 1,365 Service and Non-Service Cost Reconciliation FAS Pension Service Cost $ (50) $ (50) Less: CAS Pension C
Slide 14: Appendix IV
Appendix IV 2026 Outlook (October 2026) ($M), EXCEPT FOR EPS Sales $80,000 - $82,000 Segment Operating Profit* 8,575 - 8,675 Segment Margin* 10.6% FAS / CAS Operating Adjustment** ~1,685 Other, net ~(540) Consolidated Operating Profit 9,520 - 9,620 Net-Operating FAS Pension Expense** ~(320) Interest
Slide 15: Appendix V: Acronyms
Appendix V ACRONYMS C2 – Command and Control MSE – Missile Segment Enhancement CAS – Cost Accounting Standards NGI – Next Generation Interceptor EPS – Earnings Per Share O/L – Outlook FAS – Financial Accounting Standards OPIR – Overhead Persistent Infrared FBM – Fleet Ballistic Missile PAC-3 – Patri