Lockheed Martin's revenue reached $2.071 billion in Q3 2026, and it raised its full-year EPS and revenue outlook. It also highlighted a record order backlog of $292 billion, suggesting that the 10-year F-35 production and sustainment framework and investment in new weapons production capacity will support long-term demand.
Lockheed Martin was reported to have generated revenue of $2.071 billion in the third quarter of 2026, with net income up year on year, and the company raised its full-year 2026 EPS and revenue outlook. Its order backlog also reached a record $292 billion.
The framework includes international orders and a stable workload, centered on F-35 production and sustainment contracts for the United States. The long-term view is that cash flow from current production-capacity investments and future contracts will be linked.
The updated 2026 earnings outlook and record order backlog are viewed as strengthening the long-term investment story. Although congressional funding approval is required, the relationship between current production plans and future contracts is expected to support future earnings sources.
As a long-term forecast, revenue is expected to reach $91.4 billion and profit $8.4 billion by 2029, with analysts assuming annual revenue growth of approximately 5.9%. Fair value is estimated to have approximately 3% upside from the current share price.