Lockheed Q4 profits miss estimates despite F-35 boom
It projects net sales of US$77.5 billion to US$80 billion for its 2026 outlook, in line with consensus estimates of US$77.9 billion
[MARYLAND] Lockheed Martin’s fourth-quarter earnings missed analyst estimates – despite record deliveries of its stealthy F-35 fighter jets and a 9.1 per cent increase in sales.
Adjusted profit for the fourth quarter was US$5.80 a share, it said. This was below analysts’ expectations of a decline from a year earlier to US$5.86 a share, data compiled by Bloomberg showed.
The company projected net sales of US$77.5 billion to US$80 billion for its 2026 outlook, in line with consensus estimates of US$77.9 billion.
In a separate statement, Lockheed said it had signed a framework agreement with the US Department of Defense to quadruple the production of Thaad missile interceptors – from 96 to 400 a year.
The announcement did not disclose the terms of the deal, but the firm said it planned a multibillion-dollar investment spanning three years to expand production, as well as build and modernise more than 20 facilities.
Investors are closely watching the world’s largest defence contractor for clues on outlays, after US President Donald Trump said the defence budget for FY 2027 could surge to US$1.5 trillion.
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Lockheed and the Pentagon recently hammered out a framework for boosting production of its Pac-3 missiles that could be applied to other missile systems, a crucial area of growth. BLOOMBERG
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