Lockheed Martin CorporationStrong Q2 earnings beat, raised guidance, and record backlog.

Lockheed Martin shares surged more than 10% on July 23 after the company reported strong second-quarter 2026 earnings and secured additional Pentagon contracts. Revenue increased 11% year over year to $20.1 billion, earnings reached $7.94 per share, and free cash flow rebounded to $2.9 billion. The company raised its full-year 2026 revenue guidance to between $79.75 billion and $81.75 billion and exited the quarter with a record $230.4 billion order backlog, up from $166.5 billion a year ago. Lockheed also won $67.7 million in new Pentagon contracts, including $44.6 million for US Navy submarine systems upgrades and $23.1 million for F-35 fighter jet maintenance depots for allied nations. The results arrive amid a historic expansion in global defense spending, with the Trump administration proposing a record $1.5 trillion military budget for fiscal 2027 and NATO allies committing to spend 5% of GDP on defense by 2035.
Lockheed Martin CorporationStrong Q2 earnings beat, raised guidance, and record backlog.
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