Lockheed Martin Q1 2025 Earnings Surpass Wall Street Estimates, CEO Says Last Year’s Momentum Continued Into First Quarter

The company reaffirmed its 2025 outlook, expecting sales to be in the range of $73.75 billion to $74.75 billion.

Lockheed Martin Corp’s (LMT) first-quarter earnings and revenue surpassed analyst estimates, with the company reaffirming its 2025 outlook supported by a resilient defense demand.

Sales rose 4% year-over-year (YoY) to $17.96 billion during the quarter, beating a Street estimate of $17.87 billion. Earnings per share (EPS) stood at $7.28 compared to an estimated $6.31. Net income rose 11% YoY to $1.71 billion during the quarter.

CEO Jim Taiclet noted that last year’s momentum continued into the first quarter of 2025. “We continued investing in the business with over $850 million of research and development and capital expenditures in the quarter, and returned $1.5 billion to shareholders through dividends and share repurchases,” he said.

The company reaffirmed its 2025 outlook, expecting sales to be in the range of $73.75 billion to $74.75 billion.

Lockheed Martin expects business segment operating profit to be in the range of $8.1 billion to $8.2 billion. Diluted earnings per share (EPS) is expected to be between $27.00 and $27.30.

Segment-wise, Aeronautics' sales rose 3% to $7.06 billion during the quarter, primarily driven by a $215 million increase in sales from the F-35 program, resulting from higher volume on production contracts. The segment saw operating profit rise 6% to $720 million.  

MFC's sales increased 13% to $3.37 billion while operating profit rose 50% to $465 million.

Rotary and Mission Systems’ sales rose 6% to $4.33 billion while operating profit increased 21% to $521 million. Meanwhile, the Space segment’s sales declined 2% to $3.21 billion, while operating profit increased 17% to $379 million.

LMT shares have declined by over 5% in 2025 and by nearly 1% in the past 12 months.

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