Earnings Call
Apr 23, 2026
Q1 FY2026
EPS Estimate
6.74
EPS Actual
6.44
Post-Earnings Close
$529.79
Earnings Reaction
-4.6%
Lockheed Martin's first quarter 2026 results came in below consensus on both earnings and revenue, with EPS of $6.44 against an estimate of $6.74 and sales of $18 billion roughly flat year-over-year. The shortfall was driven by a confluence of factors: unfavorable profit adjustments on the F-16 and C-130 programs at Aeronautics, a difficult comparison against nonrecurring milestone completions across three business areas in Q1 2025, and mark-to-market losses on deferred compensation plan investments. Management was quick to contextualize these as largely transient, noting that the one-time items across the three affected business areas accounted for roughly $190 million in sales and $240 million in profit on a year-over-year basis, and that full-year guidance remains intact.
Report generated on Apr 24, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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