Lockheed Martin Reports Strong Q2 Performance with Record Backlog
Lockheed Martin (NYSE:LMT) reported a strong second quarter in 2026, marked by an 11% year-over-year increase in sales to $20.1 billion and earnings per share rising to $7.94. Free cash flow rebounded significantly to $2.9 billion from negative $150 million the previous year. The company ended Q2 with a record backlog of $230 billion, driven by major defense contract awards totaling over $65 billion. Key wins included a $35 billion THAAD interceptor contract and orders for GMLRS and HIMARS systems worth up to $4.1 billion combined. These contracts contributed to an impressive 3.2-to-1 book-to-bill ratio, signaling strong demand across defense sectors such as missile defense, munitions, F-35 aircraft production, radar systems, and space programs. Lockheed Martin raised its full-year guidance for sales, operating profit, free cash flow, and earnings per share due to ongoing investments in automation, capacity expansion, and new technologies. The company emphasized sustained demand across all business segments.
Tickers: $LMT
Topics: backlog increase contract awards free cash flow rebound Q2 earnings sales growth