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Lockheed Martin reported Q1 2026 sales of $18.0 billion, flat compared to Q1 2025, with net earnings of $1.5 billion or $6.44 per share, down from $1.7 billion or $7.28 per share year-over-year. Operating profit declined 13% to $2.1 billion as business segment operating profit fell $262 million, driven by lower profit booking adjustments at Aeronautics and the absence of favorable performance in certain programs at Space. Missiles and Fire Control grew 8% on munitions production ramp-up; Rotary and Mission Systems declined 8% due to lower volume on radar and helicopter programs. Free cash flow turned negative at $(291) million versus $955 million prior year, reflecting higher working capital and timing of billing activities. The company signed multiyear framework agreements with the Department of War to accelerate munitions production (Patriot, THAAD, PrSM) with targets to increase rates 3–4 times. Full-year 2026 guidance reaffirmed: sales and operating profit growth of ~5% and ~25% respectively, with free cash flow of $6.5–$6.8 billion.
Full-year 2026 sales growth ~5% YoY; operating profit growth ~25% YoY; free cash flow $6.5–$6.8 billion

Lockheed Martin and General Motors partner to scale munitions and defense equipment production using automotive manufacturing expertise.

Boeing exits the Navy's T-45 replacement competition; Sierra Nevada/Northrop Grumman and Leonardo/Textron remain as bidders for 216 jet trainers.

Boeing's 757 testbed spotted carrying an infrared sensor pod for F-22 Raptor 2.0 upgrade testing at Edwards Air Force Base.

Lockheed Martin's GRIZZLY C-UAS system successfully downs a Group 3 attack drone in live-fire test using Joint Air-to-Ground Missile at Yuma Proving Ground.

Army hackathon "Project Jailbreak" integrates defense contractors' software to unify battlefield command systems; early patches deployed to CENTCOM troops.
Fifth-generation stealth multirole fighter produced in three variants for the U.S. Air Force, Navy, and Marine Corps and 17 allied nations. Integrates advanced sensors, radar-evading stealth, and fused avionics into a single airframe. Lockheed is producing 170–190 jets per year; the Skunk Works Open Systems Gateway (OSG) unlocks classified data sharing between F-35s and allied air-defense systems, extending the platform's relevance well beyond initial service entry.
Next-generation ground-based intercontinental ballistic missile developed under the Ground Based Strategic Deterrent (GBSD) program to replace the aging Minuteman III. Lockheed's Strategic Deterrent Systems division is prime contractor. The Sentinel program is ramping through Engineering and Manufacturing Development with first operational deployments targeted for the early 2030s, anchoring the land leg of the U.S. nuclear triad.
Lockheed-built next-generation navigation satellites for the U.S. Space Force providing three times better accuracy and up to eight times improved anti-jamming capability over legacy Block IIF satellites. GPS IIIF adds a new L1C civil signal compatible with international standards. Eighth satellite launched successfully in 2025; Space Force continues ordering follow-on GPS IIIF units to complete modernization of the constellation.
High Mobility Artillery Rocket System (HIMARS) is a wheeled, combat-proven launcher firing guided rockets and Army Tactical Missile System (ATACMS) munitions. The Extended-Range GMLRS (ER GMLRS) round more than doubles the baseline range to over 150 km, demonstrated in a 112-kilometer flight test at White Sands in 2025. HIMARS has become a defining weapon of the Russia-Ukraine war, driving surging U.S. Army production contracts.
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