Filing Flows › Lockheed Martin (LMT) › Q3 2026
Lockheed Martin (LMT) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 22, 2026
Lockheed Martin (LMT) reported revenue of $20.7B for the third quarter 2026 (Q3 2026), +11% from a year earlier and +3% from the quarter before. Operating margin was 11.8%, net earnings $1.8B (8.9% of revenue).
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.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $20.7B | +3% | +11% |
| Gross profit | $2.4B | -0.4% | +9% |
| Operating profit | $2.4B | -1% | +7% |
| Net earnings | $1.8B | +0.5% | +14% |
| Operating cash flow | $3.4B | +6% | -8% |
| Free cash flow | $3.0B | +3% | -10% |
What changed
Revenue was $20.7B in Q3 2026, up 11% year over year and up 3% from the previous quarter. Products was the largest line at 84% of revenue. Products added $2.1B year over year (up 14%), 101% of the total change.
Gross margin was 11.8%, down 0.3 points from Q3 2025. Operating profit was $2.4B, a 11.8% margin (down 0.5 points year over year). Of the extra revenue versus Q3 2025, 8% reached operating profit, below the 12% margin then. Net earnings were $1.8B, up 14% year over year. The effective tax rate was 15.1%.
Operating cash flow was $3.4B (down 8% year over year), 186% of net earnings. Non-cash charges added back $0.42B of depreciation and amortization and $0.09B of share-based compensation. Working capital and other items added $1.1B. Capital expenditures of $0.44B left free cash flow of $3.0B.
Questions
What was Lockheed Martin's revenue in the third quarter 2026?
Lockheed Martin (LMT) reported revenue of $20.7B for the third quarter 2026 (Q3 2026), +11% from a year earlier and +3% from the quarter before.
Was Lockheed Martin profitable in the third quarter 2026?
Operating profit was $2.4B (11.8% of revenue) and net earnings $1.8B.
Source: Lockheed Martin 10-Q on SEC EDGAR.