Lockheed opens the
books on Tuesday evening.

Sales Growth Acceleration

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Lockheed Martin is experiencing significant sales growth acceleration, recording an 11% increase in Q2 and expecting high single-digit to low double-digit year-over-year growth rates in the second half of 2026.

"We recorded sales of $20.1 billion, a $1.9 billion, 11% increase over the same period last year. This growth was primarily driven by accelerating munition programs in MFC and further supported by all other segments, including strong performance in F-35 production and Aeronautics, the MIC 2 portfolio in RMS and the strategic and missile defense programs in space. ... Our revised outlook pegs our second half 2026 growth rate in the high single digits and perhaps even the low double digits, a year-over-year increase of between 7% and 12% as compared to the second half of 2025."

- Evan Scott, CFO - Q2 FY26 Earnings Call - July 23, 2026

Fy26 Guidance Raise

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The company is raising its outlook across every key metric for 2026, now expecting total sales of $79.75 billion to $81.75 billion, representing an 8% year-over-year increase.

"I'm pleased to report that we are raising our outlook across every key metric. Building on the momentum we generated in Q2, we now expect total sales of $79.75 billion to $ 81.75 billion, representing an 8% year-over-year increase at the midpoint, up from the prior 5% guidance."

- Evan Scott, CFO - Q2 FY26 Earnings Call - July 23, 2026

New Product Development Speed

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Lockheed Martin demonstrates rapid innovation by integrating existing systems and developing new technologies, bringing new products like the Santam counter UAS solution from concept to live-fire testing in very short timeframes.

"In early June at Yuma Proving Ground, our Santam counter UAS solution, anti-drone system, utilizing our Grizzly containerize launcher went from concept to successful Live-fire testing in under 45 days, built not by inventing something brand new, but by connecting what we already had, a combat proven battle manager, Radar, launcher and Jagan missiles, the successor to the Hellfire operating as 1 integrated system for a brand-new mission."

- James Taiclet, Chairman, President and Chief Executive Officer - Q2 FY26 Earnings Call - July 23, 2026

Strategic Capex Investment

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Lockheed Martin aims to be the clear leader in defense technologies by investing in manufacturing and design capabilities ahead of orders, anticipating and meeting national defense needs.

"So yes, we are investing in the manufacturing and design capabilities before the orders come in. And I think that's the right way to run the company, Scott."

- James Taiclet, Chairman, President and Chief Executive Officer - Q2 FY26 Earnings Call - July 23, 2026

International Co Production

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Lockheed Martin is expanding its international co-production and sustainment programs with global partners, strategically placing manufacturing, overhaul, and repair capabilities where U.S. and allied forces operate.

"Also as our design and manufacturing systems evolve, we are deliberately growing and diversifying our access to capital investment and critical workforce skills through international partners via expanded coproduction and regional sustainment programs. These efforts have the benefit of placing manufacturing overhaul and repair capabilities where U.S. forces are deployed overseas and where our allied forces operate."

- James Taiclet, Chairman, President and Chief Executive Officer - Q2 FY26 Earnings Call - July 23, 2026