Filing Flows › Lockheed Martin (LMT) › Guidance history
Lockheed Martin (LMT) guidance history: what it guided and what it reported
Lockheed Martin gave guidance in 11 earnings releases on file since Jan 23, 2024. Of 3 guided periods since reported, it met or beat its own guidance 3 times (100%). Revenue: 2 of 2, on average +0.2% against the guided midpoint. Its releases raised guidance 5 times and lowered it once.
Revenue
Met or beat 2 of 2 periods (1 above, 1 within, 0 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $79.8B–$81.8B (Jul 23, 2026) → raised $80.0B–$82.0B (Oct 22, 2026) | — | to be reported | — |
| FY2025 | $73.8B–$74.8B (Jul 22, 2025) → raised $74.2B–$74.8B (Oct 21, 2025) | $75.0B | above the range | +0.7% |
| FY2024 | $70.5B–$71.5B (Jul 23, 2024) → raised $71.2B (Oct 22, 2024) | $71.0B | within the range | -0.3% |
Tax rate
Met or beat 1 of 1 periods (0 above, 0 within, 1 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2024 | 21.0% (Apr 23, 2024) | 14.2% | below the range | -6.8 pts |
EPS
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $29.35–$30.25 (Jan 29, 2026) → reaffirmed $29.35–$30.25 (Apr 23, 2026) → raised $29.95–$30.65 (Jul 23, 2026) → raised $30.35–$30.75 (Oct 22, 2026) | — | to be reported | — |
| FY2025 | $27.00–$27.30 (Apr 22, 2025) → lowered $21.70–$22.00 (Jul 22, 2025) → raised $22.15–$22.35 (Oct 21, 2025) | — | — | — |
| FY2024 | $4.00 (Jan 23, 2024) → reaffirmed $4.00 (Apr 23, 2024) → lowered $2.00 (Jul 23, 2024) → raised $3.00 (Oct 22, 2024) | — | — | — |
Capital expenditures
The GAAP figure from the filings is shown for each period reported; it is not judged against the guide, which may leave items out (one-off payments, acquisitions).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $2.0B–$2.4B (Jul 23, 2026) → reaffirmed $2.1B–$2.3B (Oct 22, 2026) | — | to be reported | — |
| FY2025 | $1.9B (Jul 22, 2025) → reaffirmed $1.9B (Oct 21, 2025) | $1.6B (GAAP) | not judged | — |
| FY2024 | $1.8B (Jul 23, 2024) → reaffirmed $1.8B (Oct 22, 2024) | $1.7B (GAAP) | not judged | — |
Free cash flow
The GAAP figure from the filings is shown for each period reported; it is not judged against the guide, which may leave items out (one-off payments, acquisitions).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $6.5B–$6.8B (Jan 29, 2026) → reaffirmed $6.5B–$6.8B (Apr 23, 2026) → raised $7.0B (Jul 23, 2026) → lowered $1.0M (Oct 22, 2026) | — | to be reported | — |
| FY2025 | $1.0M (Jul 22, 2025) → reaffirmed $1.0M (Oct 21, 2025) | $6.9B (GAAP) | not judged | — |
| FY2024 | $1.0M (Jul 23, 2024) → raised $2.0M (Oct 22, 2024) | $5.3B (GAAP) | not judged | — |
The latest quarter
Lockheed Martin, Q3 2026: revenue $20.7B (+11% year over year), operating margin 11.8%, net earnings $1.8B, operating cash flow $3.4B. The chart follows the revenue to costs, profit and cash.
Questions
Does Lockheed Martin beat its guidance?
Lockheed Martin gave guidance in 11 earnings releases on file since Jan 23, 2024. Of 3 guided periods since reported, it met or beat its own guidance 3 times (100%). Revenue: 2 of 2, on average +0.2% against the guided midpoint.
How often does Lockheed Martin raise guidance?
Its earnings releases raised guidance 5 times and lowered it once since Jan 23, 2024.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.