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Lockheed Martin

LMT · Industrials

Last earnings Oct 22, 2026

Key results

Net incomequarter

$1.6 billion

Net earnings of $1.6 billion, or $6.95 per share Cash from operations of $3.7 billion and

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Net earnings in the third quarter of 2025 were $1.6 billion, or $6.95 per share, compared to $1.6 billion, or $6.80 per share, in the third quarter of 2024.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Free cash flowquarter

$3.3 billion

Free cash flow was $3.3 billion in the third quarter of 2025, compared to $2.1 billion in the third quarter of 2024.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Cash from operations in the third quarter of 2025 was $3.7 billion with free cash flow of $3.3 billion compared to $2.4 billion with $2.1 billion in free cash flow in the third quarter of 2024.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Operating marginquarter

9.4 %

29, 2024 Sales $ 7,256 $ 6,487 $ 21,733 $ 20,609 Operating profit 682 659 1,304 2,089 Operating margin 9.4 % 10.2 % 6.0 % 10.1 % Aeronautics sales during the quarter ended Sept.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

29, 2024 Sales $ 3,624 $ 3,175 $ 10,430 $ 9,270 Operating profit 510 456 1,454 1,217 Operating margin 14.1 % 14.4 % 13.9 % 13.1 % MFC s sales during the quarter ended Sept.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

29, 2024 Sales $ 4,373 $ 4,367 $ 12,696 $ 13,003 Operating profit 506 483 855 1,408 Operating margin 11.6 % 11.1 % 6.7 % 10.8 % RMS sales during the quarter ended Sept.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

29, 2024 Sales $ 3,356 $ 3,075 $ 9,868 $ 9,539 Operating profit 331 272 1,072 943 Operating margin 9.9 % 8.8 % 10.9 % 9.9 % Space s sales during the quarter ended Sept.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

AI analysis

Q3 2025 · reported Oct 21, 2025

Based on: Earnings release + parent 8-K — transcript not held

Free cash flow · Q3 2025
$3.3B
+57.1% +$1.20B vs year ago computed from stated figures
EX-99 · Oct 21, 2025
Net income · Q3 2025
$1.6B
EX-99 · Oct 21, 2025
Operating margin · Q3 2025
9.4 %
EX-99 · Oct 21, 2025

Headline figures

MetricQ3 2025Prior qtrYear ago
Net income$1.6 billion——
Free cash flow$3.3 billion—$2.1 billion
Operating margin9.4 %——

EX-99 · Oct 21, 2025

Guidance · company-stated

No guidance located in the held release

Outlook statement

“The sustained financial momentum across our portfolio gives us confidence to increase our outlook for sales, earnings per share and free cash flow, the second consecutive quarter we have raised our financial guidance.”

Next earningsNo verified date on fileNo date is estimated or imported

Margin

Operating margin9.4 %

Cash flow & capex

Free cash flow$3.3B

Capital allocation

Net income$1.6B
Free cash flow$3.3B
Dividend$2B

Net earnings of $1.6 billion, or $6.95 per share Cash from operations of $3.7 billion and free cash flow of $3.3 billion Returned $1.8 billion of cash to shareholders through dividends and share repurchases Increased share repurchase authority by $2 billion to a total authorization of $9 billion Increased quarterly dividend by 5% to $3.45 per share Record backlog of $179 billion Updates 2025 outlook BETHESDA, Md.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Net earnings in the third quarter of 2025 were $1.6 billion, or $6.95 per share, compared to $1.6 billion, or $6.80 per share, in the third quarter of 2024

Based on: Earnings release + parent 8-K — transcript not held

Guidance & outlook

No guidance located in the held release

Capital allocation

Net earnings of $1.6 billion, or $6.95 per share Cash from operations of $3.7 billion and free cash flow of $3.3 billion Returned $1.8 billion of cash to shareholders through dividends and share repurchases Increased share repurchase authority by $2 billion to a total authorization of $9 billion Increased quarterly dividend by 5% to $3.45 per share Record backlog of $179 billion Updates 2025 outlook BETHESDA, Md.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Moreover, our disciplined capital deployment continues to provide robust, reliable rewards for our shareholders, highlighted by 23 consecutive years of dividend increases.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

28, 2025, included the following paying cash dividends of $765 million paying $1.0 billion to repurchase 2.3 million shares paying off $1.4 billion of commercial paper and receiving net proceeds from debt issuances of $1,985 million.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

9, 2025, the company's board authorized the repurchase of its common stock up to an additional $2.0 billion, increasing the total authorization for potential future common stock repurchases to $9.1 billion.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

The stock repurchase program does not have an expiration date and may be amended or terminated by the board of directors at any time.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

9, 2025, the company authorized a fourth quarter dividend payment of $3.45 per share, representing an increase of $0.15 per share, or 5%, over the prior quarterly dividend payment.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Strategy & priorities

Looking ahead, we are investing aggressively in both new digital technologies and physical production capacity needed to meet the top defense priorities of the United States and its allies and we are doing so in partnership with a number of leading technology partners, large and small.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Major national defense initiatives like the Golden Dome for America demand proven leadership in a wide range of skills, including integrated air and missile defense, space warfare and highly secure command and control systems.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Lockheed Martin is the capable leader and integrator across industry for these types of initiatives.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

This increase was primarily attributable to higher sales of $160 million for strategic and missile defense programs due to higher volume on the Fleet Ballistic Missile (FBM) and Next Generation Interceptor (NGI) programs and $70 million on national security space programs due to classified volume.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Risks & headwinds

2 The 2025 financial outlook incorporates the company's current assessment of the impact of tariffs and related recovery of tariffs on its contracts.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

However, the company cannot predict how tariffs will evolve and the actual impacts may differ from the company's expectations.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

These statements are not guarantees of future performance and are subject to risks and uncertainties.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

or foreign tax, export or other laws, regulations, and policies and their interpretation or application, and changes in the amount or reevaluation of uncertain tax positions and the outcome of legal proceedings, bid protests, environmental remediation efforts, audits, administrative reviews, government investigations or government allegations that the company has failed to comply with law, other contingencies and U.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Given these uncertainties, forward-looking statements should not be relied on in making investment decisions.

SEC original ↗Lockheed Martin — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Documents

Earnings deck slides

0 decks with slide view

Lockheed Martin — Third Quarter 2026 Earnings Conference Call (Q3 2026) — Slide view unavailable — the original PDF could not be retrieved for segmentation (HTTP Error 403: Forbidden).

Lockheed Martin — Second Quarter 2026 Conference Call Webcharts (Q2 2026) — Slide view unavailable — the original PDF could not be retrieved for segmentation (HTTP Error 403: Forbidden).

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

RELX (RELX) IndustrialsThomson Reuters (TRI) IndustrialsFedEx (FDX) IndustrialsVertiv (VRT) IndustrialsCanadian National Railway (CNI) IndustrialsAerCap Holdings (AER) IndustrialsCanadian Pacific Kansas City (CP) IndustrialsGeneral Dynamics (GD) Industrials

Filings

60 documents

Earnings releases

19 documents

Presentations

2 documents

Transcripts

0 documents

No transcripts for Lockheed Martin are held in this edition of the library.

Mentioned by

9 companies

Other tracked companies whose held documents mention Lockheed Martin by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.