Lockheed Martin lifts 2026 forecasts as Pentagon seeks to restock weapons

"We're in active dialog looking at other potential opportunities. We do see a real opportunity here for more partnerships to scale production faster, particularly in Europe," CFO Evan Scott said on a call with Reuters.

Sales in Lockheed's aeronautics segment also rose 9%, partly supported by higher production volume and sales of its F-35 stealth fighters. The F-35 is the Pentagon's largest acquisition program, with lifetime costs estimated at more than $2 trillion to purchase, operate and sustain the aircraft.

Lockheed's total backlog grew to $230.4 billion, up 38.3% from $166.5 billion last year.

It expects 2026 revenue between $79.75 billion and $81.75 billion, higher than the previous forecast range of $77.5 billion to $80 billion. Analysts on average expect $79.14 billion, according to data compiled by LSEG.