LMT · 10-Q · 2026Q2

LOCKHEED MARTIN CORP

Filed 2026-07-23 · Automotive · View original filing on EDGAR

Ranked Events

• Operating Profit and MarginsImportance 78 · Surprise 74
  Six-month operating profit declined to $3.120 billion from $4.542 billion, while quarterly operating profit declined to $2.479 billion from $4.542 billion because 2025 included large reach-forward losses that distorted…
• Stock Repurchases and Debt RepaymentImportance 77 · Surprise 82
  Lockheed Martin made no common-stock repurchases during the six months ended June 28, 2026, compared with $1.3 billion spent to repurchase 2.7 million shares in the prior-year period. The absence of 2026 repurchases…
• Cash Flow and Capital ExpendituresImportance 69 · Surprise 64
  Net cash provided by operating activities increased $1.845 billion year over year to $3.455 billion for the six months ended June 28, 2026, primarily because of customer-receipt timing and lower tax payments. Capital…
• Products and TechnologyImportance 60 · Surprise 40
  Product sales increased 11% year over year in the second quarter, led by higher F-35 production at Aeronautics, PAC-3 and THAAD production ramps at MFC, undersea combat systems and River Class Destroyer programs at…
• Revenue Performance and MixImportance 54 · Surprise 40
  Six-month sales increased 5% year over year to $38.084 billion from $36.118 billion, while quarterly sales increased 11% to $20.063 billion from $18.155 billion. Six-month product sales rose 5% to $31.614 billion and…
• Customer DynamicsImportance 49 · Surprise 6
  The U.S. Government remained Lockheed Martin’s principal customer, accounting for 70% of sales, or approximately $26.7 billion, during the six months ended June 28, 2026. The Department of War accounted for 61% of…
• Customer Revenue ConcentrationImportance 49 · Surprise 6
  U.S. Government customers accounted for 70% of $38.1 billion in sales during the six months ended June 28, 2026, representing approximately $26.7 billion of revenue. The Department of War, also referred to in the…
• Liquidity and Debt PositionImportance 49 · Surprise 32
  Cash and cash equivalents totaled $3.791 billion at June 28, 2026, compared with $4.121 billion at the beginning of the year and $1.293 billion at June 29, 2025. Lockheed Martin had no borrowings under its revolving…
• Income Tax Rate ChangesImportance 45 · Surprise 50
  The effective tax rate fell to 15.7% in the quarter and 15.9% for the six months ended June 28, 2026, compared with 18.0% and 16.3% in the comparable 2025 periods. The lower 2026 rates were primarily caused by lower…
• Defense Spending OutlookImportance 40 · Surprise 42
  The FY 2026 National Defense Authorization Act authorized $901 billion for national defense, while the Consolidated Appropriations Act provided $839.2 billion of discretionary national-defense funding through September…
• Contract Profit AdjustmentsImportance 40 · Surprise 42
  During the six months ended June 28, 2026, Lockheed Martin recorded $125 million of unfavorable profit adjustments on F-16, $95 million on RMS Heavy Lift and $80 million on RMS Seahawk programs. The F-16 adjustment…
• Manufacturing CapacityImportance 37 · Surprise 42
  Lockheed Martin is working with the U.S. Government, international partners and its supply chain to expand production capacity and improve its ability to scale operations. The effort is intended to support anticipated…
• Rare Earth Minerals RiskImportance 32 · Surprise 24
  Recent government actions relating to rare earth minerals used in certain Lockheed Martin products have raised concerns about supply availability. The company is monitoring the rare-earth-minerals supply chain and…
• U.S. Budget and Procurement UncertaintyImportance 29 · Surprise 24
  Management expects the federal budget, potential tax-law changes and regulatory environment to remain subject to debate and compromise amid political tensions, inflation and broader macroeconomic conditions. Shifting…
• Inflationary Cost PressuresImportance 29 · Surprise 24
  Elevated inflation, supply chain delays, supplier shortages and workforce limitations have increased costs and created potential delivery and performance challenges for Lockheed Martin, its suppliers and customers. The…
• Supply Chain ConstraintsImportance 29 · Surprise 24
  Lockheed Martin continues to experience supplier shortages and performance issues, although on-time deliveries have generally remained steady. Pressures persist in certain areas, and the company is working with…
• Middle East Conflict ImpactImportance 23 · Surprise 24
  Conflicts and tensions in the Middle East, Europe and the Pacific have increased global security requirements and may drive demand for Lockheed Martin products and services. The U.S. Government is focused on increasing…
• Market Demand TrendsImportance 23 · Surprise 24
  Global conflicts and tensions in the Middle East, Europe and the Pacific have heightened security requirements and increased interest in Lockheed Martin’s defense products and services. The company states that the U.S.…
• Trade Policy and TariffsImportance 20 · Surprise 24
  Imported materials and component parts are subject to U.S. tariffs, sanctions, embargoes, export and import controls, and other trade restrictions. Lockheed Martin does not currently expect existing tariffs to have a…

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Revenue by Geography (in millions)