Lockheed Martin's second quarter revenue grew 11% to beat estimates, leading to a raised full-year outlook.

Lockheed Martin reported second quarter 2026 sales of $20.1 billion, an 11% year-over-year increase, and diluted EPS of $7.94. These results surpassed analyst expectations for both revenue and earnings.

Key Highlights

• The company achieved a record backlog of $230 billion, bolstered by $65 billion in new orders during the quarter, including a significant multi-year contract for THAAD interceptors.
• Management raised its full-year 2026 financial outlook, now anticipating sales between $79.75 billion and $81.75 billion and free cash flow of over $7.0 billion.
• Sales growth was strong across all segments, led by a 19% increase in Missiles and Fire Control due to production ramps for PAC-3 and THAAD systems, and a 9% increase in Aeronautics from higher F-35 volume.