Lockheed Martin reported first quarter 2026 sales of $18.0 billion, flat compared to the prior year, and diluted earnings of $6.44 per share, a decrease from $7.28 in the first quarter of 2025. The company experienced negative free cash flow of $(291) million but reaffirmed its full-year 2026 financial outlook.
Key Highlights
- Missiles and Fire Control (MFC) was a key growth driver, with sales increasing 8% year-over-year to $3.6 billion due to production ramp-ups in PAC-3 and tactical missile programs.
- The Aeronautics segment saw sales decline 1% to $7.0 billion, with operating profit falling 14% due to unfavorable profit adjustments on the F-16 and C-130 programs.
- Despite the quarterly miss, management reaffirmed its full-year 2026 guidance, projecting sales between $77.5 and $80.0 billion and free cash flow of $6.5 to $6.8 billion.