Lockheed Martin Stocks Jump 6.24% as Backlog Hits Record

Lockheed Martin and the Pentagon agreed on a 10-year deal for 850 F-35 fighter jets, spares, and maintenance. The deal, pending Congressional approval, is expected to generate $79B in annual economic activity and support 317,000 jobs. Lockheed Martin will invest $7B in the program, aiming to expand capacity and improve efficiency.

The US Department of War and Lockheed Martin proposed a 10-year framework for producing 850 F-35 aircraft, with annual production at 156 units. The plan aims to cut costs, strengthen supply chains, and support 317,000 jobs. Final contracts require multiyear authority and funding. Lockheed Martin estimates $79bn in annual economic activity and billions in savings over the F-35's lifecycle, according to the company.

Lockheed Martin secured a 10-year Pentagon deal for F-35 fighter jet production, committing $7B to the program. The agreement, pending approval, includes delivering 850 aircraft to the U.S. and maintaining 156 annual production. Lockheed expects to support 317,000 jobs and generate $790B in economic activity, with cost savings for taxpayers.

The Pentagon and Lockheed Martin agreed on a 10-year framework for 850 F-35 jets, pending congressional approval. Lockheed claims this will improve mission-capable rates and reduce logistics bottlenecks. The deal follows similar agreements for other weapons systems. The F-35's mission-capable rate reportedly fell from 67% in 2021 to 44% in 2025, according to a GAO report. Lockheed estimates the program will support 317,000 U.S. jobs and $79 billion in annual economic activity.

Lockheed Martin and the Pentagon agreed to a 10-year deal for 850 F-35 fighter jets. The value was not disclosed. Lockheed's president called it a key front-line fighter. The F-35 costs over $100m per plane and is used in combat.

Lockheed Martin reported Q3 2026 earnings with double-digit sales and profit growth, driven by a $292 billion backlog. The company raised full-year guidance and expects high single-digit revenue growth in 2027. Key initiatives include munitions production expansion, F-35 program growth, and strategic investments in AI and autonomous aircraft. Management highlighted partnerships with commercial tech suppliers and new operating models for munitions growth.