Filing Flows › Lockheed Martin (LMT) › Q2 2026
Lockheed Martin (LMT) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 23, 2026
Lockheed Martin (LMT) reported revenue of $20.1B for the second quarter 2026 (Q2 2026), +11% from a year earlier and +11% from the quarter before. Operating margin was 12.4%, net earnings $1.8B (9.2% of revenue).
Lockheed Martin, Q2 2026: revenue $20.1B (+10% year over year), operating margin 12.4%, net earnings $1.8B, operating cash flow $3.2B. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $20.1B | +11% | +11% |
| Gross profit | $2.4B | +18% | +233% |
| Operating profit | $2.5B | +20% | +231% |
| Net earnings | $1.8B | +23% | +437% |
| Operating cash flow | $3.2B | 15× | 16× |
| Free cash flow | $2.9B | — | — |
What changed
Revenue was $20.1B in Q2 2026, up 11% year over year and up 11% from the previous quarter. Products was the largest line at 84% of revenue. Products added $1.6B year over year (up 11%), 86% of the total change.
Gross margin was 12.2%, up 8.1 points from Q2 2025. Operating profit was $2.5B, a 12.4% margin (up 8.2 points year over year). Of the extra revenue versus Q2 2025, 91% reached operating profit, above the 4% margin then. Net earnings were $1.8B, up 437% year over year. The effective tax rate was 15.7%.
Operating cash flow was $3.2B (up 1509% year over year), 176% of net earnings. Non-cash charges added back $0.40B of depreciation and amortization and $0.10B of share-based compensation. Working capital and other items added $0.90B. Capital expenditures of $0.32B left free cash flow of $2.9B.
Questions
What was Lockheed Martin's revenue in the second quarter 2026?
Lockheed Martin (LMT) reported revenue of $20.1B for the second quarter 2026 (Q2 2026), +11% from a year earlier and +11% from the quarter before.
Was Lockheed Martin profitable in the second quarter 2026?
Operating profit was $2.5B (12.4% of revenue) and net earnings $1.8B.
Source: Lockheed Martin 10-Q on SEC EDGAR.