Quarterly report

Summary

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• Total sales rose to $20,711 million for the quarter ended September 27, 2026, from $18,609 million a year earlier, and net earnings were $1,845 million versus $1,619 million.
• The Space segment had quarterly sales of $3,485 million and operating profit of $331 million, with higher volume on Fleet Ballistic Missile (FBM) and Next Generation Interceptor (NGI) programs partially offset by program lifecycle on the OPIR mission.
• Lockheed delivered 43 F-35 aircraft in the quarter, bringing cumulative production deliveries to 1,387 aircraft, with a backlog of 274 aircraft.
• Cumulative losses on the Aeronautics classified program remained at approximately $1.8 billion, of which $394 million remained accrued, and the MFC classified program cumulative losses remained at approximately $1.5 billion, of which $1.0 billion remained accrued.
• The company expects to fund the pending $3.45 billion acquisition of Ultra Maritime with cash on hand.
• Nine-month net cash provided by operating activities was $6,893 million and free cash flow was $5,625 million, and no shares were repurchased during the quarter or nine months.

Why it mattersThe filing discloses rising missile and F-35 production volume alongside unfunded F-35 Lot 20 cost exposure and continued large accrued losses on two classified programs. Space sales grew on FBM and NGI while OPIR volume declined.