Quarterly report

Summary

This summary has not passed every source check. Confirm figures against the original document.

• Total sales for the quarter ended June 28, 2026 were $20,063 million, up from $18,155 million, with net earnings of $1,836 million ($7.94 per diluted share) versus $342 million ($1.46) a year earlier.
• Space segment sales rose $189 million, or 6%, to $3,496 million in the quarter, driven by higher volume on Fleet Ballistic Missile (FBM) and Next Generation Interceptor (NGI) programs, while Space operating profit of $371 million was comparable to the prior year.
• For the six months, Space sales increased $412 million, or 6%, to $6,924 million, but Space operating profit decreased $89 million, or 12%, to $652 million due to favorable performance at completion on certain commercial civil space programs in 2025.
• The company delivered 19 F-35 aircraft in the quarter, bringing production deliveries since inception to 1,344 aircraft, with a backlog of 317 aircraft as of June 28, 2026.
• Free cash flow for the six months was $2,626 million, up $1.8 billion from $805 million, and the company repaid $1.2 billion of long-term notes with no share repurchases during the quarter.
• The FY 2026 National Defense Authorization Act authorizes $901 billion for national defense, and the FY 2027 request seeks a $1.5 trillion defense budget highlighting Golden Dome missile defense and increased F-35 purchases.

Why it mattersThe Space segment posted higher sales on FBM and NGI missile-defense volume but lower six-month operating profit. The FY 2027 request highlights Golden Dome missile defense and increased F-35 purchases as funding priorities.