Lockheed Martin posts 11% sales rise to $20.1 billion in Q2 2026

Lockheed Martin reported second-quarter 2026 sales of $20.1 billion, up 11% from $18.2 billion a year earlier, while net earnings rose to $1.8 billion, or $7.94 per share. Cash from operations reached $3.2 billion and free cash flow (cash from operations minus capital spending) totaled $2.9 billion, compared with $201 million and negative $150 million respectively in the second quarter of 2025. The company said growth was driven across all segments by higher volume and munitions production ramps, and that new orders of $65 billion lifted backlog to a record $230 billion, including a multi-year contract to produce THAAD interceptors. Chairman, President and CEO Jim Taiclet said the results supported a higher full-year outlook, with approximately 8% year-over-year sales growth, roughly 28% higher segment operating profit, and free cash flow now expected to exceed $7 billion. During the quarter, Lockheed Martin also highlighted a $35 billion multi-year THAAD contract with the Missile Defense Agency, progress on its Sanctum counter-drone system, collaboration with General Motors Defense in the U.S., and an agreement with Rheinmetall to co-produce ATACMS in Europe.