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Lockheed Martin posts strong Q3 2026, raises guidance, hits record $292B backlog on missile contract

Company Fundamentals
23 Oct 2026
Seeking Alpha
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Bullish
Lockheed Martin posts strong Q3 2026, raises guidance, hits record $292B backlog on missile contract

Lockheed Martin reported strong third-quarter results for 2026, driven by a major Patriot missile contract that helped the company achieve a record backlog of $292 billion. The Missiles and Fire Control division is the main growth driver, with plans to expand capacity and add $10 billion in annual revenue by 2031. Other divisions like Aeronautics, Rotary, and Space face production limits, capping organic growth at 4–6% annually. The company expects modest profit growth, buybacks, and dividends to deliver 9–10% annual returns, but warns against expecting rapid expansion.

Lockheed Martin's market cap stands at $136.15 billion as of Oct 23, 2026, 19:42 WIB, with a dividend yield of 2.44%. Despite the company's strong Q3 results and a record backlog, its stock price on Pluang is slightly down by 0.32% at USD 588.00. Trading volume is robust at nearly 3 million shares, reflecting active investor interest amid ongoing production and growth challenges.

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Lockheed Martin beats Q3 2026 earnings estimates with record backlog of $292B

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