Lockheed Martin Raises 2026 Guidance, Unveils F-35 Production Plan With DOW – LMT Stock Set To Breach This Key Resistance After Nearly 2 Months

Lockheed Martin reported Q3 revenue of $20.71 billion, up 11% and above Wall Street's estimate of $20.46 billion, according to Fiscal.ai.

• Lockheed expects FY 2026 revenue of $80 billion to $82 billion, up from its earlier forecast of $79.75 billion to $81.75 billion
• Lockheed announced a 10-year framework covering 850 U.S. F-35 aircraft, spare parts, modification kits and maintenance support.
• Lockheed’s backlog came in at a record $292 billion.

Lockheed Martin (LMT) was in focus Thursday after the defense behemoth raised its full-year 2026 guidance and unveiled a framework with the U.S. Department of War (DOW) to cover manufacturing and maintenance of 850 F-35 fighter jets over the next decade.

LMT shares were up 4% in pre-market trading and on track to breach the 200-day moving average (200-DMA) for the first time since September 1.

Q3 Beat Driven By Missiles And Aeronautics Division

Lockheed Martin reported Q3 revenue of $20.71 billion, up 11% and above Wall Street's estimate of $20.46 billion, according to Fiscal.ai. Earnings per share rose to $7.97 from $6.95 a year earlier, beating expectations of $7.52 per share. Net earnings increased 14% to $1.8 billion, while free cash flow reached $3 billion.

Q3 growth was driven by a 24% increase in Missiles and Fire Control revenue, led by higher production of PAC-3 and THAAD missile systems. Aeronautics division revenue jumped 13%, supported by increased F-35 production. Lockheed’s backlog hit a record $292 billion.

“We delivered $3 billion of free cash flow in the quarter, and increased our backlog to a record $292 billion, allowing us to raise our dividend for the 24th year in a row,” said Chairman, President and CEO Jim Taiclet.  

Lockheed Raises FY 2026 Outlook

Lockheed expects FY 2026 revenue of $80 billion to $82 billion, up from its earlier forecast of $79.75 billion to $81.75 billion. It also raised its earnings outlook to $30.35 - $30.75 per share from $29.95 - $30.65.

“The sustained financial momentum across our portfolio gives us confidence to increase our outlook for sales, earnings per share and free cash flow, the second consecutive quarter we have raised our financial guidance,” Taiclet added.

A New Multiyear F-35 Framework

Separately, Lockheed Martin announced a 10-year framework covering 850 U.S. F-35 aircraft, spare parts, modification kits and maintenance support, as well as international customer orders.

According to the new framework, the company would maintain annual production of 156 aircraft and is expected to improve supply chain stability. However, it is not yet a finalized contract.

Retail Expects LMT Stock To Climb For The Next 2-3 Months

Retail sentiment surrounding LMT on Stocktwits flipped to ‘bullish’ from ‘neutral’ over the past 24 hours, amid ‘normal’ message volumes.

One user expects the stock to run up for the next two to three months based on the results.

View this Stocktwits post

LMT shares have gained more than 10% so far in 2026.

For updates and corrections, email newsroom[at]stocktwits[dot]com.<