Defense contractors Lockheed Martin and RTX report beat-and-raise Q2 2026 results, driving shares up 10% and 7% respectively amid broader market decline.
Lockheed Martin and RTX shares jumped 10% to $567.71 and 7% to $208.48, respectively, after both companies reported stronger-than-expected Q2 2026 earnings. The gains stand out as the S&P 500 declined 1.16% on the session, highlighting sector resilience.
Lockheed Martin posted adjusted EPS of $7.94 on revenue of $20.1 billion, surpassing estimates of $7.23 and $19.37 billion. The company secured $65 billion in new orders, including a $35 billion THAAD interceptor deal, pushing backlogs to record levels. RTX also exceeded expectations, reinforcing investor confidence in defense sector growth.
The defense rally extended sector-wide, with the ITA aerospace and defense ETF rising alongside the gains. Both stocks have climbed over 30% in the past year, signaling sustained momentum in the industry.