The defense contractor raised full-year sales and earnings guidance following stronger-than-expected second-quarter results.
Lockheed Martin posted second-quarter sales of $20.1 billion, an 11% year-over-year increase, exceeding expectations and prompting an upward revision to its full-year outlook. Net earnings surged to $1.8 billion, or $7.94 per share, compared with $342 million, or $1.46 per share, in the same period last year, which included $1.6 billion in program losses.
The company raised its 2026 sales guidance to a range of $79.75 billion to $81.75 billion, up from $77.5 billion to $80.0 billion previously. Earnings per share guidance was lifted to $29.95 to $30.65, while projected free cash flow increased to $7.0 billion to $7.2 billion. Cash from operations reached $3.2 billion, up sharply from $201 million a year earlier.
Lockheed Martin’s Missiles and Fire Control segment led growth, with sales rising 19% to $4.1 billion. Shares rose more than 5% in early trading following the announcement.