8-KCurrent report
Results of operations
UnverifiedLockheed Martin reported Q2 2026 sales of $20.1 billion, up 11%, net earnings of $7.94 per share, and record backlog of $230 billion including a $35 billion multi-year THAAD contract.
Filed Jul 23, 2026 · 06:30 ET
Summary
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- Second quarter 2026 sales increased 11% to $20.1 billion, compared to $18.2 billion in the second quarter of 2025.
- Net earnings were $1.8 billion, or $7.94 per share, compared to $342 million, or $1.46 per share, in the second quarter of 2025, which included $1.6 billion of program losses.
- Cash from operations was $3.2 billion and free cash flow was $2.9 billion, compared to $201 million and $(150) million respectively in the prior year.
- Total backlog reached a record $230 billion, including a $35 billion multi-year contract with the Missile Defense Agency for THAAD.
- Space segment sales increased $189 million, or 6%, to $3,496 million, driven by higher volume on Fleet Ballistic Missile (FBM) and Next Generation Interceptor (NGI) programs.
- The company raised its full year 2026 outlook to sales of ~$79,750 to $81,750 million, diluted EPS of ~$29.95 to $30.65, and free cash flow of over $7 billion.
Key facts
- Q2 2026 sales
- $20.1 billion
From the filing for Q2 2026 sales
“Sales increase of 11% to $20.1 billion”
- Net earnings per share
- $7.94 per share
From the filing for Net earnings per share
“Net earnings of $1.8 billion, or $7.94 per share”
- Free cash flow
- $2.9 billion
From the filing for Free cash flow
“Cash from operations of $3.2 billion and free cash flow of $2.9 billion”
- Total backlog
- $230 billion
From the filing for Total backlog
“Record backlog of $230 billion, inclusive of the multi-year contract to produce THAAD interceptors”
- THAAD contract
- $35 billion
From the filing for THAAD contract
“signing a $35 billion multi-year contract with the Missile Defense Agency for THAAD”
- New orders
- $65 billion
From the filing for New orders
“$65 billion of new orders, which takes our backlog to a record $230 billion”
- FY2026 free cash flow outlook
- ~$7,000 - $7,200
From the filing for FY2026 free cash flow outlook
“Free cash flow 1 ~$7,000 - $7,200 $6,500 - $6,800”
Why it mattersThe results disclose a $35 billion THAAD interceptor contract and record $230 billion backlog, with Space segment sales up 6% on FBM and Next Generation Interceptor volume. The company raised full year sales, EPS, and free cash flow guidance.
- Filed
- Jul 23, 2026
- Accepted
- 2026-07-23 10:30Z
- Period
- Jul 23, 2026
- Accession no.
- 0001628280-26-049277
- Size
- 926 KB
- Index
- Filing index