Earnings summaries and quarterly performance for LOCKHEED MARTIN.
Executive leadership at LOCKHEED MARTIN.
Board of directors at LOCKHEED MARTIN.
DB
David Burritt
Detailed
Director
DR
Debra Reed-Klages
Detailed
Director
HW
Heather Wilson
Detailed
Director
JA
John Aquilino
Detailed
Director
JD
John Donovan
Detailed
Director
JD
Joseph Dunford
Detailed
Director
PY
Patricia Yarrington
Detailed
Director
TF
Thomas Falk
Detailed
Lead Independent Director
VH
Vicki Hollub
Detailed
Director
Research analysts who have asked questions during LOCKHEED MARTIN earnings calls.
MW
Myles Walton
Wolfe Research, LLC
4 questions for LMT
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Robert Stallard
Vertical Research Partners
4 questions for LMT
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RE
Ronald Epstein
Bank of America
4 questions for LMT
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DH
Douglas Harned
Sanford C. Bernstein & Co., LLC
3 questions for LMT
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Kristine Liwag
Morgan Stanley
3 questions for LMT
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NP
Noah Poponak
Goldman Sachs
3 questions for LMT
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PA
Peter Arment
Robert W. Baird & Co.
3 questions for LMT
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RS
Richard Safran
Seaport Research Partners
3 questions for LMT
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SK
Sheila Kahyaoglu
Jefferies
3 questions for LMT
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David Strauss
Barclays
2 questions for LMT
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GK
Gautam Khanna
TD Cowen
2 questions for LMT
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Jason Gursky
Citigroup Inc.
2 questions for LMT
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Michael Ciarmoli
Truist Securities, Inc.
2 questions for LMT
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PS
Peter Skibitski
Alembic Global Advisors
2 questions for LMT
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SD
Scott Deuschle
Deutsche Bank
2 questions for LMT
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Scott Mikus
Melius Research
2 questions for LMT
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GP
Gavin Parsons
UBS Group AG
1 question for LMT
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Kenneth Herbert
RBC Capital Markets
1 question for LMT
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MA
Matthew Akers
Wells Fargo & Company
1 question for LMT
Also covers: BAH, CACI, HXL +8 more
SS
Seth Seifman
JPMorgan Chase & Co.
1 question for LMT
Also covers: ATI, BA, CACI +21 more
Recent press releases and 8-K filings for LMT.
Lockheed Martin secures $25B C-130J contract expansion
LMT
New Projects/Investments
- $10 billion modification raises the cumulative C-130J contract value to $25 billion from $15 billion for delivery, development, integration and engineering.
- Includes foreign military sales to Egypt, Australia, New Zealand, France, the Philippines, Norway and Germany, with work led by the Air Force Life Cycle Management Center in Marietta, GA, through July 16, 2035.
- No funds obligated at award; reflects the Pentagon’s long-term aviation modernization strategy and rising global demand for the C-130J platform.
15 hours ago
Lockheed Martin F-35 availability falls short of Pentagon requirement
LMT
- Pentagon IG finds U.S. F-35 readiness at ~50% in FY2024, 17 percentage points below the DoD’s minimum requirement.
- Shortfall attributed to poor maintenance and sustainment by Lockheed Martin and a June 2024 contract lacking measurable inspection and readiness metrics.
- DoD paid $1.7 billion to Lockheed Martin by July 1, 2025, without economic adjustments or penalties despite unmet service requirements.
- Lockheed’s Aeronautics segment, including the F-35, accounts for over two-thirds of the company’s revenue.
- Analysts note a 5.73% net margin, 8.18% operating margin, and 3.59 debt-to-equity ratio, highlighting areas for financial improvement.
19 hours ago
Lockheed Martin secures SDA missile tracking satellites contract
LMT
New Projects/Investments
- Awarded a $1 billion+ contract by the Space Development Agency for 18 Tranche 3 missile warning, tracking, and defense satellites under its Proliferated Warfighter Space Architecture.
- Builds on prior Tranche 2 Tracking Layer awards and leverages Lockheed Martin’s investments in rapid-production practices and smallsat integration.
- Increases Lockheed Martin’s SDA commitment to 124 space vehicles, following the recent launch of 21 Tranche 1 Transport Layer satellites.
- Production of the Tracking Layer vehicles will occur at Lockheed Martin’s Colorado SmallSat Processing & Delivery Center using Terran Orbital-built satellite buses.
5 days ago
Lockheed Martin executes pension annuity buy-out
LMT
Accounting Changes
Guidance Update
- On December 16, 2025, Lockheed Martin executed buy-out conversions of group annuity contracts, transferring approximately $900 million of gross pension obligations from its defined benefit plans to insurance companies for about 9,000 U.S. retirees, with no additional funding required by the company.
- The company expects to recognize a non-cash, non-operating pretax settlement charge of ~$480 million in Q4 2025, reflecting accelerated actuarial losses previously included in equity; this was not in its prior 2025 outlook.
- Insurance companies will now legally assume and administer the pension benefits with no change to the nature, amount, or timing of payments.
6 days ago
Lockheed Martin debuts Finland’s first F-35A
LMT
Product Launch
New Projects/Investments
- The first F-35A Lightning II for the Finnish Air Force was rolled out at Lockheed Martin’s F-35 facility, with delivery scheduled for early 2026
- Finland plans to acquire 64 F-35As, forming northern Europe’s largest F-35 fleet
- Over 30 Finnish firms are participating in the F-35 supply chain, part of a global network of 1,900 suppliers, enhancing national aerospace industry
- The F-35 program now includes 20 allied nations, with more than 1,270 aircraft operational and over 1 million flight hours logged
Dec 16, 2025, 4:40 PM
Lockheed Martin launches Astris AI for Government solutions
LMT
Product Launch
New Projects/Investments
- Lockheed Martin subsidiary Astris AI has launched Astris AI for Government™, an integrated, turnkey AI platform offering cloud-to-edge infrastructure for federal and commercial customers to build, deploy, and sustain secure, high-assurance AI applications.
- The solution leverages partnerships with Oracle Cloud Infrastructure, NVIDIA AI Enterprise, and open source AI models from Meta to deliver a unified ecosystem that accelerates AI adoption while maintaining data sovereignty and security.
- Astris AI for Government enables on-site ingestion and real-time processing of mission-critical data, supporting use cases such as wildfire response, the Genesis Mission, and critical infrastructure protection.
- Initial offerings are available now through Astris AI, Oracle Marketplace, and commercial federal procurement vehicles, integrating Generative AI and MLOps accelerated by NVIDIA NIM microservices.
- The initiative’s partner ecosystem is expanding with the development of PEARL™ (Persistent Environment for AI, Readiness, and Learning), a large-scale AI and simulation environment for advanced operations analysis and AI testing.
Dec 11, 2025, 1:00 PM
Lockheed Martin enters $3 billion 364-day revolving credit agreement
LMT
Debt Issuance
- On December 5, 2025, Lockheed Martin Corporation executed a $3.0 billion unsecured 364-day revolving credit facility, arranged by Bank of America, JPMorgan Chase, Citibank, Crédit Agricole, Mizuho and Wells Fargo.
- The facility matures on December 4, 2026, with an option to convert any outstanding borrowings into non-revolving term loans maturing on December 4, 2027.
- Proceeds are available for general corporate purposes, including supporting commercial paper borrowings.
- Interest can be elected at Base Rate, Term SOFR plus a 0.585%–1.085% margin, Daily Simple SOFR plus the SOFR margin, or competitive bid rates; a quarterly facility fee of 0.04% applies.
Dec 9, 2025, 9:58 PM
Lockheed Martin outlines 2025 strategy at Goldman Sachs Industrials and Materials Conference
LMT
Guidance Update
Dividends
New Projects/Investments
- Recorded a book-to-bill of one for the fourth consecutive year and backlog growth of 30% to $179 billion, with 5% sales growth guidance and plans to return $6 billion to shareholders in 2025 via dividends and share buybacks.
- Anticipates a one-time, non-cash pension charge of $500 million from a buy-out transaction and reversal of a $100 million tax reserve without cash payment.
- Projected segment growth over the next three years: MFC at high single- to low double-digit, Space at mid-single-digit, and Aeronautics & RMS at flat to low single-digit rates.
- Expects 180–190 F-35 deliveries in 2025, supports sustaining a production rate of 156+/year for 5+ years, with sustainment now the fastest-growing Aeronautics business and Lot 18/19 fixed-price contracts enhancing margins.
- Emphasized new acquisition models requiring earlier contractor investment, positioning for the Golden Dome mission, and evaluating ULA optionality alongside partnerships with emerging defense tech entrants.
Dec 3, 2025, 6:30 PM
Lockheed Martin CFO outlines 2025 guidance and growth strategy
LMT
Guidance Update
Dividends
Share Buyback
- Book-to-bill of ~1 for 4th consecutive year; backlog up 30% to $179 billion; 2025 sales guidance unchanged for ~5% growth, segment operating profit, free cash flow, and EPS adjusted for a $500 million pension charge and $100 million tax reserve reversal.
- Segment growth outlook: MFC to grow high single- to low double-digit over next three years, Space mid-single, Aeronautics & RMS low-single/flat based on current backlog.
- Shareholder returns prioritized: $6 billion to be returned in 2025 via dividends (23rd consecutive increase) and share buybacks.
- Exploring new acquisition models and capacity funding mechanisms to accelerate munitions scaling; positioning for Golden Dome multi-domain defense initiative through cross-industry partnerships.
Dec 3, 2025, 6:30 PM
Lockheed Martin outlines 2025 growth and guidance at GS conference
LMT
Guidance Update
Dividends
Share Buyback
- 2025 guidance unchanged: Sales growth of ~5%, stable segment operating profit and free cash flow targets; plans to return $6 billion to shareholders via dividends and buybacks, marking the 23rd consecutive dividend increase.
- Record backlog of $179 billion, with book-to-bill of one for four years running; recent multi-year awards include PAC-3, CH-53K, JASSM and LRASM programs.
- One-time, non-cash $500 million pension liability buyout charge and reversal of a $100 million tax reserve after IRS audit settlements; cash collections normalizing post-government shutdown.
- Segment growth trajectory over next three years: MFC at high single-digit to low double-digit, Space at mid-single-digit, and Aeronautics & RMS at low single-digit.
Dec 3, 2025, 6:30 PM
Quarterly earnings call transcripts for LOCKHEED MARTIN.
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