Lockheed Martin Raises Full-Year Guidance Following Record $292 Billion Backlog
Lockheed Martin (LMT) reported strong third-quarter 2026 results, characterized by an 11% year-over-year sales increase to $20.7 billion. The company raised its full-year sales guidance, driven by a massive record backlog of $292 billion and a high book-to-bill ratio of 4x, indicating that demand for military hardware is significantly outpacing current production capacity. Key growth drivers include a decade-long framework agreement for the F-35 stealth fighter, securing delivery schedules for 850 jets to the U.S. military, and an $8 billion capital commitment through 2030 to expand munitions manufacturing. These long-term government commitments provide significant revenue visibility and protect large-scale investments in automation and workforce expansion from short-term budgetary fluctuations.
Tickers: $LMT
Topics: backlog increase defense contracts earnings report guidance raise revenue growth