Lockheed Martin Bumps Up Fiscal Year Outlook as Backlog Hits Record
Lockheed Martin raised its fiscal year 2023 earnings per share forecast to $30.35-$30.75 and sales outlook to $80-$82 billion. Q3 profit rose to $1.85 billion, or $7.97 per share, and revenue increased 11% to $20.71 billion, both exceeding estimates. The company's backlog grew 27% to $291.98 billion, a record. Shares gained 3.3% premarket.
How this was made
The 30-second read
Why it matters
The updated outlook suggests higher earnings per share and sales, likely attracting buying interest and supporting the stock's pre‑market rise.
Market read
First report of Lockheed's FY2026 guidance lift; sizable earnings and sales increase for a large‑cap defense contractor.
What to watch
Potential supply‑chain constraints or geopolitical shifts could temper the upside despite the backlog growth.
Background
Lockheed Martin reported Q3 profit of $1.85 bn, revenue of $20.71 bn, and a 27% backlog increase to $291.98 bn, prompting the guidance upgrade.
Ticker impact
Lockheed Martin raised its FY2026 EPS outlook to $30.35‑$30.75 and sales to $80‑$82 bn, the first disclosure of the updated guidance.
likely upward pressure as investors price in higher earnings and sales expectations
The company reported record backlog and beat prior estimates, supporting the guidance raise; pre‑market shares already up 3.3%.
Market effects
Defense sector may see broader rally on stronger backlog and demand outlook.
U.S. defense stocks could benefit as investors rotate into aerospace and military contractors.
International defense suppliers linked to Lockheed may see indirect upside.
Counterpoint
If the guidance raise is already priced in, the stock could face a short‑term pull‑back.
Key entities
- ExecutiveJim Taiclet
CEO of Lockheed Martin, highlighted innovation and digital technology as drivers.
