Lockheed Martin 1Q Sales Tick Higher on Accelerating Demand

Published: 2026-04-23 07:18:34 ET LMT

Published on 04/23/2026 at 07:18 am EDT

By Connor Hart

Lockheed Martin's profit fell in the first quarter, though sales edged higher as demand for weapons continued to accelerate.

The defense contractor on Thursday posted a profit of $1.49 billion for the quarter ended March 29, compared with $1.71 billion in last year's comparable quarter. Quarterly earnings of $6.44 a share missed the $6.74 a share that analysts polled by FactSet expected.

Sales ticked up 0.3% to $18.02 billion, below Wall Street models for $18.22 billion.

Shares fell 4.9%, to $528, in premarket trading Thursday.

Chief Executive Jim Taiclet said Lockheed Martin signed several framework agreements in the first quarter to accelerate and scale munitions production.

The agreements are expected to benefit both the industry and the government, supporting strategic investments in production infrastructure and bolstering supply chains, he added.

Lockheed earlier this month secured a $4.7 billion contract from the U.S. government to accelerate production of Patriot interceptors, which have been used extensively by the U.S. and its allies to shoot down Iranian missiles and drones.

The deal is a step toward the company increasing production of the PAC-3 MSE interceptor from 620 last year to 2,000 per year by 2030, an agreement Lockheed and the Pentagon announced in January. It comes as demand for interceptors has surged, as the U.S. responds to ongoing conflicts and heightened geopolitical tensions.

Looking ahead, Lockheed Martin backed its outlook for earnings of $29.35 to $30.25 a share on revenue of $77.5 billion to $80 billion in 2026. Analysts were looking for earnings of $29.99 a share on revenue of $79.22 billion.

Write to Connor Hart at [email protected]

(END) Dow Jones Newswires

04-23-26 0716ET