Overview

* Lockheed Martin ( LMT ) Q3 sales rose to $18.61 bln, beating analysts' expectations

* Net earnings for Q3 2025 were $1.6 bln, stable compared to Q3 2024

* Company increased share repurchase authority by $2 bln to $9 bln total

Outlook

* Lockheed Martin ( LMT ) raises 2025 sales outlook to $74.25 bln - $74.75 bln

* Company increases 2025 EPS forecast to $22.15 - $22.35

* Lockheed Martin ( LMT ) increasing production capacity amid strong demand from U.S. and its allies, per CEO Jim Taiclet

Result Drivers

* F-35 PROGRAM - Increased sales due to higher production volume and contract delays resolution

* RECORD BACKLOG - $179 bln backlog, amounting to more than two and a half years of sales, reflects strong demand from U.S. and allied customers

* MAJOR CONTRACT AWARDS - CH-53K and PAC-3 MSE programs largest ever for respective segments

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Sales Beat $18.61 $18.55

bln bln (16

Analysts

)

Q3 EPS $6.95

Q3 Net $1.60

Income bln

Q3 Free $3.30

Cash bln

Flow

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 12 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the aerospace & defense peer group is "buy"

* Wall Street's median 12-month price target for Lockheed Martin Corp ( LMT ) is $522.50, about 3.2% above its October 20 closing price of $505.90

* The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)