# Lockheed Martin Raises Full-Year Guidance

> Lockheed Martin reports 11% revenue growth and record $292B backlog as it signals 'permanent' defense demand.
- Title: Lockheed Martin Raises Full-Year Guidance · BigGo Finance
- Summary: Lockheed Martin reports 11% revenue growth and record $292B backlog as it signals 'permanent' defense demand. Lockheed Martin raised full-year 2026 guidance…
- Keywords: lockheed martin, revenue, backlog, defense, f-35, munitions, sales, guidance, cash flow, pension, finance, markets
- Source: BigGo Finance — https://finance.biggo.com/news/US_LMT_2026-10-22
- Author: BigGo Finance
- Published: 2026-10-22T14:54:16+00:00
- Read time: 2 min
- Topics: lockheed martin, revenue, backlog, defense, f-35, munitions, sales, guidance, cash flow, pension, finance, markets
## Q3 2026 Results Beat Expectations
Lockheed Martin reported third-quarter 2026 results that beat expectations with revenue rising 11% year-over-year to $20.7 billion.
## Earnings Per Share and Free Cash Flow
Earnings per share climbed 15% to $7.97, and the company generated $3 billion in free cash flow.
## Record Backlog Growth
The company's backlog swelled to a record $292 billion, up $113 billion from the prior-year period.
## Book-to-Bill Ratio
This represents a book-to-bill ratio of 4x, indicating strong demand for the company's products.
## Full-Year Guidance Raised
Lockheed Martin raised full-year 2026 guidance for sales, profit, and cash for the second consecutive quarter.
## Missiles and Fire Control Segment
The Missiles and Fire Control segment saw sales and profit surge 24% year-over-year as production ramps on key munitions programs.
## CEO's 'Permanent' Demand Statement
CEO Jim Taiclet described the demand environment as 'permanent,' driven by geopolitical tensions.

> permanent, resulting in a business that is resilient through any budget cycle
## Munitions Investment Commitment
The company is investing over $8 billion through 2030 to expand munitions capacity and modernize more than 20 facilities.
## F-35 Multi-Year Agreement
Lockheed Martin secured a multi-year F-35 agreement cementing its role as the free world's key front-line fighter for years ahead.

> cements its role as the free world's key front-line fighter for years ahead
## PAC-3 Contract Details
The company signed a seven-year PAC-3 contract worth up to $58.6 billion, building on a seven-year THAAD agreement.
## Full-Year 2026 Sales Guidance
Lockheed Martin now expects sales of $80 billion to $82 billion, representing approximately 8% growth at the midpoint.
## 2027 Revenue Growth Outlook
CFO Evan Scott said all four segments are expected to grow revenue in 2027 with high single-digit growth.
## Vectis Autonomous Aircraft
Lockheed Martin will build five Vectis aircraft with its own investment to offer a production-ready autonomous aircraft.
## Geopolitical Demand Drivers
CEO Jim Taiclet cited geopolitical tensions, including Russia's designs on Europe, Iran's goals in the Middle East, and China's production rates.

> the only way i think it's feasible to maintain an effective deterrent is to maintain a strong national defense
## Key takeaway

Lockheed Martin raised full-year 2026 guidance for sales to $80B-$82B after 11% revenue growth and record $292B backlog.