Lockheed Martin Net Income Falls 13% to $1.49B in Q1 2026
Lockheed Martin Corporation (NYSE: LMT), a global aerospace and defense contractor, reported net income of $1.49 billion for the quarter ending March 29, 2026, down from $1.71 billion in the year-ago period.
Lockheed Martin Corporation (NYSE: LMT), a global aerospace and defense contractor, reported net income of $1.49 billion for the quarter ending March 29, 2026, down 13% from $1.71 billion in the same quarter of 2025. Diluted earnings per share fell to $6.44 from $7.28. Read more earnings reports.
Total revenue for the three months ending March 29, 2026 edged up to $18.02 billion from $17.96 billion in the year-ago quarter, an increase of less than 1%. Operating income declined 15% to $1.82 billion from $2.09 billion.
The company's Aeronautics segment generated $6.95 billion in revenue, down 1.5% from $7.06 billion in the prior-year quarter. Missiles and Fire Control revenue rose 8% to $3.65 billion from $3.37 billion. Rotary and Mission Systems revenue fell 8% to $3.99 billion from $4.33 billion, while Space segment revenue climbed 7% to $3.43 billion from $3.21 billion.
Operating income for Aeronautics fell to $619 million from $720 million. Missiles and Fire Control posted operating income of $500 million versus $465 million in the prior year. Rotary and Mission Systems operating income declined to $423 million from $521 million, and Space operating income fell to $281 million from $379 million.
Cash generated from operations totaled $220 million for the quarter, down sharply from $1.41 billion in the year-ago period. The company used $541 million in investing activities and deployed $1.91 billion in financing activities, compared to $430 million and $1.66 billion respectively in the prior-year quarter.
Total assets stood at $59.24 billion as of March 29, 2026, down from $59.84 billion at year-end 2025. Cash and cash equivalents declined to $1.89 billion from $4.12 billion at the end of 2025. Long-term debt remained essentially flat at $20.53 billion.
Stockholders' equity rose to $7.49 billion from $6.72 billion at year-end 2025. The company had 230.6 million shares outstanding at quarter-end. Retained earnings increased to $14.72 billion from $14.03 billion.
Financial Summary
| Item | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Total Revenue | $18.02B | $17.96B | +0.3% |
| Operating Income | $1.82B | $2.09B | -14.6% |
| Net Income | $1.49B | $1.71B | -13.1% |
| EPS (Diluted) | $6.44 | $7.28 | -11.5% |
| Cash from Operations | $220M | $1.41B | -84.4% |
Segment Revenue
| Segment | Q1 2026 | Q1 2025 |
|---|---|---|
| Aeronautics | $6.95B | $7.06B |
| Missiles and Fire Control | $3.65B | $3.37B |
| Rotary and Mission Systems | $3.99B | $4.33B |
| Space | $3.43B | $3.21B |