LMTQ3 2026 PreviewExpected October 19, 2026 · before market open
LMT Q3 2026 Earnings Preview — What to Watch
At the archive date, LOCKHEED MARTIN CORP was expected to release its Q3 2026 10-Q filing on October 19, 2026, before market open. Last quarter: Lockheed Martin delivered sharply higher Q2 FY2026 profitability, with revenue up 10.5% year over year to $20.1B and net income up 436.8% to $1.8B, primarily reflecting the absence of major 2025 reach-forward losses and stronger missile-defense and F-35 production activity. Source: 10-Q Item 2 MD&A, pp.28-35.
Analyst consensus captured from Finnhub and Financial Modeling Prep. This archived preview is no longer updated with later results; see the LMT page for retained reports.
What to Watch in Q3 2026
Drawn from management commentary in the Q2 2026 10-Q:
Profit rebound was heavily aided by comparison with prior-year contract losses
Quarterly gross profit rose to $2.4B from $734M and operating profit rose to $2.5B from $748M. The comparison benefited materially from $950M of reach-forward loss recognized on a classified Aeronautics contract and $665M of losses on the Canadian Maritime Helicopter Program and Turkish Utility Helicopter Program at RMS in Q2 2025; Q2 FY2026 still included unfavorable adjustments on certain programs, including F-16, C-130, Heavy Lift, and Seahawk programs during the first six months.
Missile-defense production ramps drove the strongest sales growth
Missiles and Fire Control sales increased 19% year over year to $4.1B in Q2 FY2026, led by approximately $560M of higher sales on integrated air and missile defense programs, including PAC-3 and THAAD, plus roughly $100M from tactical and strike missile programs including PrSM. Segment operating profit increased 24% to $594M.
Aeronautics benefited from F-35 volume and prior-year loss comparisons
Aeronautics sales increased 9% to $8.1B, principally due to $475M of higher F-35 production-contract volume and a $360M sales effect from the prior-year classified-program reach-forward loss. The segment delivered 19 F-35 aircraft during Q2 FY2026 and reported backlog of 317 aircraft as of June 28, 2026.