Lockheed Martin reported first-quarter sales of $18 billion.
Revenue remained flat compared to the same period last year. Net earnings fell to $1.5 billion from $1.7 billion. Operating profit decreased 13% to $2.06 billion.
Lower booking rate adjustments and aeronautics program performance drove the profit decline. Missiles and Fire Control sales grew 8% behind higher PAC-3 interceptor production. Space segment revenue increased 7% due to strategic missile defense demand.
Lockheed Martin reaffirmed its full-year 2026 sales outlook of $77.5 billion to $80 billion. Management expects global geopolitical instability to sustain long-term demand for defense systems.