Lockheed Martin Reports Record $230B Backlog in Q2 2026
Lockheed Martin reported robust Q2 2026 earnings, highlighted by a record $230 billion backlog and raised annual guidance, driven by strong demand for defense systems.
Key Numbers
Lockheed Martin Corporation (NYSE: LMT) reported strong financial results for the second quarter of 2026, beating analyst estimates on the back of robust demand for defense systems and fighter jets. The company posted a record backlog of $230 billion, indicating strong business momentum.
Key Financial Results
| Metric | Q2 2026 | YoY Change |
|---|---|---|
| Revenue | $18.9B | +8% |
| Net Income | $1.8B | +12% |
| EPS | $6.45 | +15% |
| Free Cash Flow | $2.1B | +10% |
Highlights from the Call
CEO James Taiclet said, "We continue to see unprecedented demand for our defense capabilities, driven by rising geopolitical tensions and the need for modernization." He noted that new orders included large contracts for F-35 jets and missile systems.
Guidance
Lockheed Martin raised its 2026 guidance, now expecting annual revenue between $75B and $77B, up from the prior range of $73B-$75B. It also lifted EPS guidance to $25-$26.
Stock Impact
Shares of Lockheed Martin (LMT) rose 2.3% in after-hours trading to $520. The stock has gained 18% year-to-date.
What This Means for Investors
The results underscore strong demand for defense products in a tense geopolitical environment. The record backlog provides clear visibility into future revenues. However, investors should watch for inflationary cost pressures and any changes in the U.S. defense budget.
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