Lockheed Martin is set to report fourth-quarter results next week, with analysts forecasting revenue of approximately $18.7 billion, representing year-over-year growth of 4.5 percent driven by steady demand across aeronautics and missile systems. However, higher program execution costs and expected one-time charges of around $200 million for supplier remediation are likely to weigh on operating margins. Research and development expenses are projected to rise by 7 percent as the company accelerates its hypersonics and space modernization programs. Investors will be watching free cash flow guidance closely, which consensus estimates place at about $4.8 billion for the full year, down slightly from last year’s $5.0 billion due to working capital build-up on high-value contracts.

On January 13, Lockheed Martin successfully orbited its ninth GPS III satellite (SV09) aboard a SpaceX Falcon 9 from Cape Canaveral. The new satellite delivers navigation accuracy improvements to within 30 centimeters and provides anti-jamming capabilities reportedly 60 times greater than legacy systems. With completion of GPS III satellites SV01 through SV10, Lockheed Martin’s space backlog now stands at approximately $152 billion, underpinned by follow-on contracts for the next-generation GPS IIIF series. The advanced cybersecurity features and signal modernization upgrades built into these platforms are expected to secure new U.S. Space Force awards this year, supporting stable revenue visibility in the space segment.