Lockheed Martin Reports Record Backlog of $230 Billion, Raises Full-Year Guidance
Lockheed Martin (NYSE:LMT) reported second-quarter results exceeding expectations with GAAP diluted earnings per share of $7.94 and revenue rising to $20.06 billion year over year. The company ended the quarter with a record backlog of $230 billion, up from about $166 billion in the prior year, driven by major defense awards including a $35 billion THAAD contract and a $3 billion GMLRS deal. The strong order book has led to an updated full-year GAAP earnings forecast raised to between $29.95 and $30.65 per share from previously projected $29.35–$30.25, surpassing analyst estimates. Sales guidance for 2026 was also increased to a range of $79.75 billion to $81.75 billion. Lockheed Martin expects the backlog to support sales growth over several years and outlined segment-specific forecasts across Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.
Tickers: $LMT
Topics: backlog growth contract awards defense earnings beat