Reported Earnings • Jul 24
Second quarter 2026 earnings released: EPS: US$7.98 (vs US$1.47 in 2Q 2025) Second quarter 2026 results: EPS: US$7.98 (up from US$1.47 in 2Q 2025). Revenue: US$20.1b (up 11% from 2Q 2025). Net income: US$1.84b (up 437% from 2Q 2025). Profit margin: 9.2% (up from 1.9% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Global Aerospace & Defense industry. Buy Or Sell Opportunity • Jul 15
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at US$521. The fair value is estimated to be US$653, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 4.5% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Announcement • Jul 07
Lockheed Martin Corporation And Rheinmetall AG Move Forward With ATACMS Co-Production In Europe Lockheed Martin Corporation announced the signing of a memorandum of understanding that addresses the immediate demand for locally produced munitions in Europe. With the support of the United States and German governments, the agreement marks the next step toward establishing a joint venture to create the first European centre of excellence for the manufacturing, integration and distribution of ATACMS across NATO and allied European forces. By co-producing ATACMS missiles on European soil, the partnership supports local capability, increases allied deterrence and contributes to economies on both sides of the Atlantic. Lockheed Martin Corporation will continue operating its current production line in Camden, Arkansas until transition is complete. Rheinmetall AG is establishing the industrial base in Germany for modern defence systems, which are in great demand by the armed forces of Europe. By establishing ATACMS production at Rheinmetall AG's Unterluess site, new capabilities for Germany and Europe are being created, supplies for customers are being secured and autonomy in defence policy is being strengthened. Rheinmetall AG's Unterluess facility is one of the company's most important sites. A total of about 4,000 employees work there. Its core competencies include the production of weapon systems and ammunition, as well as the development, manufacture, and maintenance of tracked vehicles. Unterluess is the privately owned firing range in Europe. Last year, the "Werk Niedersachsen"—one of the most modern production facilities for artillery ammunition—was put into operation. A rocket motor factory is currently nearing completion. Production of rocket motors and guided missile components is scheduled to begin as early as 2027. Announcement • Jul 01
Lockheed Martin Corporation to Report Q2, 2026 Results on Jul 23, 2026 Lockheed Martin Corporation announced that they will report Q2, 2026 results Pre-Market on Jul 23, 2026 Announcement • Jun 03
Lockheed Martin Demonstrates First-Ever Sanctum C-UAS Launch From GRIZZLY Containerized Launcher Lockheed Martin successfully intercepted a Group 3 one-way attack test drone using a Joint-Air-to-Ground Missile (JAGM) launched from a GRIZZLY containerized launcher for the first time. Sanctum Counter-Unmanned Aerial System (C-UAS) battle manager and Fortem R-40 Radars were used for the successful detection, tracking and engagement of the drone target. Sanctum's sensors detected and tracked a hostile Unmanned Aerial Vehicle (UAV), the Sanctum mission management software processed the engagement, and the GRIZZLY launcher fired a JAGM missile neutralizing the target. With integration of hardware-in-the-loop and live-fire testing completed in under 45 days, this event highlights Lockheed Martin's ability to demonstrate an end-to-end solution with speed, agility and affordability. Built on existing prototype architecture, GRIZZLY enables users to employ the ready-to-fire Sanctum C-UAS system without extensive infrastructure and logistical footprints. By integrating advanced sensor, battle management and missile technologies, Lockheed Martin delivers a decisive C-UAS capability that aligns with customers' needs for agile and distributed lethality. Scalable Detection & Deployment: Small footprint radar sites with distributed sensors offer configurable coverage options. Containerized launcher can be mounted on ground sites or maritime platforms, supporting distributed operations with minimal logistical footprint. Distributed Connectivity: Wireless communication solution between radars, battle management and launcher allows for rapid and agile deployment. Affordable Lethality: Low-cost, commercial sensors, toolless reload and eight-round capacity reduces sustainment expenses while maintaining high-volume firepower. End-to-End Multi-Mission Capability: Radar, battle management, proven-weapon container and existing layered effectors integrated through Sanctum C-UAS Battle Management software for a complete kill web against group 1-4 UAV threats. This integration will protect forward operating bases, critical assets and maritime platforms. JAGM Layered Defense: JAGM's dual-mode seeker (SAL/MMW), combined with its C-UAS capability, provides a cost-effective effector that can be rapidly deployed from a multi-missile launcher across a variety of domains, providing enhanced layered defense to protect high-value assets. Announcement • May 14
Lockheed Martin Corporation Declares Quarterly Dividend for the Second Quarter of 2026, Payable on June 26, 2026 The Lockheed Martin Corporation board of directors has authorized a second quarter 2026 dividend of $3.45 per share. The dividend is payable on June 26, 2026, to holders of record as of the close of business on June 1, 2026. Announcement • May 08
Lockheed Martin Corporation Announces Executive Changes Lockheed Martin announced that Aeronautics President Greg Ulmer has decided to retire after more than 30 years of service to the company. Effective June 1, Orlando Sanchez, Jr. (OJ) will become the new president of Aeronautics, a $30 billion business with more than 35,000 people.From his beginnings as a flight test engineer and his work across all of Lockheed Martin's major aircraft programs to his leadership delivering key advancements in the Aeronautics portfolio, Ulmer served in a variety of critical roles across the company.Sanchez joined Lockheed Martin in 2014 following a successful career as an Air Force officer and F-22 combat fighter pilot. He most recently led Skunk Works® the proven center of innovation and delivery of some of the most impactful weapons systems in nation's inventory. Ulmer will serve as a strategic advisor to support a smooth transition. Announcement • May 07
Nokia Federal Solutions and Lockheed Martin Launch Modular Open-Architecture 5G Solution for U.S. and Allied Defense Forces Nokia Federal Solutions, the U.S. government-focused arm of Nokia, and Lockheed Martin announced the launch of a new modular, open-architecture 5G solution built for the U.S. and allied defense forces. The capability is designed to deliver secure, resilient communications at the point of need. It enables military vehicles and platforms to use commercial-grade 5G in operational environments, aligned to the Department of War open architecture standards and its commercial-first strategy. The new solution integrates Nokia’s carrier-grade 5G within the Department of War’s open architecture framework, utilizing the Command, Control, Communications, Computers, Cyber, Intelligence, Surveillance, Reconnaissance (C5ISR)/Modular Open Suite of Standards (CMOSS). By aligning to CMOSS hardware and software module specifications, this plug-and-play architecture reduces complexity and accelerates integration across vehicle and expeditionary systems, improves interoperability, and enables new capabilities to be introduced and updated without disrupting existing platforms. By combining Nokia’s commercial 5G technologies with Lockheed Martin’s 5G.MIL solutions, the companies are delivering a hybrid network that allows mission-critical systems to connect with high-speed, cost-effective, commercially driven 5G while maintaining the security and resilience required by defense forces. As NATO nations increasingly integrate 5G into their mission systems, this CMOSS-aligned approach provides an additional pathway to incorporate commercial-grade 5G into allied platforms using a standardized, modular framework also outside of the U.S. This announcement represents a key follow-on milestone from the Nokia and Lockheed Martin collaboration first announced in 2025, which introduced the initial integration of Nokia’s industry-leading, military-grade 5G solutions with Lockheed Martin’s Hybrid Base Station. Together, the companies are moving beyond integration demonstrations to deliver a field-ready, modular 5G capability aligned with Department of War open architecture standards and deployable across military vehicles and platforms. The CMOSS standard is developed and maintained by the U.S. Army Combat Capabilities Development Command. Through this new solution, Nokia Federal and Lockheed Martin are moving standards-based 5G from concept to deployable reality. The collaboration reflects a shared focus on delivering practical, mission-ready technology that can be integrated quickly and evolve alongside operational requirements. Reported Earnings • Apr 29
First quarter 2026 earnings released: EPS: US$6.47 (vs US$7.30 in 1Q 2025) First quarter 2026 results: EPS: US$6.47 (down from US$7.30 in 1Q 2025). Revenue: US$18.0b (flat on 1Q 2025). Net income: US$1.49b (down 13% from 1Q 2025). Profit margin: 8.3% (down from 9.5% in 1Q 2025). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Global Aerospace & Defense industry. 
