Lockheed Martin reports 11% sales increase for Q2 2026

Lockheed Martin Corporation reported its second quarter 2026 financial results, with sales climbing 11% to $20.1 billion, up from $18.2 billion in the second quarter of 2025. The defense contractor saw net earnings reach $1.8 billion, or $7.94 per share, a substantial increase from $342 million, or $1.46 per share, in the prior-year period.

The company generated $3.2 billion in cash from operations and $2.9 billion in free cash flow during the quarter, demonstrating strong financial performance. Lockheed Martin also reported a record backlog of $230 billion, bolstered by agreements including a multi-year contract for THAAD interceptors.

Based on these results, Lockheed Martin has updated its financial outlook for 2026, now anticipating approximately 8% year-over-year sales growth and free cash flow projected to exceed $7 billion. The company's performance reflects increased customer demand and execution on its strategic initiatives.

Chairman, President and CEO Jim Taiclet highlighted the company's strong performance, citing increased orders and a growing backlog. He also pointed to advancements in production capabilities, including the swift development of its Sanctum counter-drone system and strategic collaborations to enhance global defense manufacturing.