Key facts
- Lockheed Martin raised its 2026 sales forecast to $79.75-$81.75 billion from $77.5-$80 billion.
- Lockheed Martin raised its 2026 profit forecast to $29.95-$30.65 per share from $29.35-$30.25.
- The company's total backlog reached $230.4 billion, a 38.3% increase year-over-year.
- Missiles and fire control revenue rose nearly 20% to $4.1 billion.
- Aeronautics segment sales rose 9% due to higher F-35 production.
- Second-quarter profit was $7.94 per share, up from $1.46 a year earlier.
Defense giant Lockheed Martin lifted its 2026 sales and profit forecasts, anticipating continued demand for weapons as the Pentagon seeks to replenish stockpiles amid a wave of global conflicts. The company's shares rose 7% in premarket trading.
President Donald Trump has been urging defense contractors to increase production as conflicts in the Middle East and Ukraine drain U.S. inventory. Lockheed's missiles and fire control business saw revenue rise nearly 20% to $4.1 billion, driven by increased production of PAC-3 and Precision Strike missiles. Sales in the aeronautics segment also rose 9%, supported by higher production of F-35 stealth fighters.
Lockheed's total backlog grew 38.3% year-over-year to $230.4 billion. The company now expects 2026 revenue between $79.75 billion and $81.75 billion, exceeding previous forecasts and analyst expectations. Full-year per-share profit is projected between $29.95 and $30.65, also higher than prior guidance and Wall Street estimates. Lockheed reported a second-quarter profit of $7.94 per share, a significant increase from $1.46 in the same period last year.