LOCKHEED MARTIN CORP — Form 8-K
Filed July 23, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 42/100
What the filing says
Lockheed Martin reported Q2 2026 sales of $20.1B (+11% YoY), net earnings of $1.8B ($7.94/share vs. $1.46 prior year), and free cash flow of $2.9B. Record backlog reached $230B including a $35B multi-year THAAD contract with the Missile Defense Agency. Full-year 2026 guidance raised: sales now ~$79.75–81.75B (vs. $77.5–80B prior), segment operating profit ~$8.5–8.7B (+28% YoY), and free cash flow over $7B (vs. $6.5–6.8B prior). Prior-year reach-forward losses on classified Aeronautics program ($950M), CMHP ($570M), and TUHP ($95M) created favorable comparisons.
Why this rating
Strong organic growth (+11% sales, +50% segment profit YoY) and record backlog signal healthy demand. Guidance raise supports momentum. However, $35B THAAD deal and backlog gains, while material in absolute terms, represent ~0.3% and ~0.2% of $106.5B market cap respectively—meaningful operational wins but not trajectory-altering for a company of this scale. Comparable-quarter gains largely reflect prior-year write-downs rather than underlying operational outperformance.
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