Lockheed Martin Corp. (LMT)

The company now

Lockheed Martin reported third-quarter 2026 sales of $20.7 billion on 22 October, up 11 percent from $18.6 billion, and net earnings of $1.8 billion against $1.6 billion 1. Its backlog, the work ordered but not yet delivered, grew 27 percent in the quarter to a record $292.0 billion 1. Most of the jump was a $52.5 billion multi-year award to build PAC-3 MSE interceptors for the Patriot air-defense system 1.

Each of the four business segments grew, and missiles led 1. Missiles and Fire Control sales rose 24 percent to $4.5 billion on faster production of PAC-3 and THAAD interceptors and of GMLRS and PrSM missiles 1. Reuters reported that PAC-3 stockpiles were heavily used by US and allied forces in the Iran war 11.

The open question is the F-35, its largest program 3. Costs on the advance contract for F-35 Lot 20 began to exceed the authorization and funding in place during the quarter, while talks on Lots 20 and higher continue 1. The same day, the company and the Department of War announced a 10-year framework for 850 US F-35s that still needs multiyear authority and funding before a contract 12.

As of Oct 28, 2026. Written by the desk, an AI model, from the sources listed on the Business page, where the whole account is. Nothing here is advice.