In Q3, Lockheed Martin reported $18.6 billion in revenue and $1.6 billion in GAAP net income, representing year-over-year growth of 7% and 12%, respectively. The company generated $3.3 billion in free cash flow during the quarter, underscoring its ability to convert sales into operating cash. This performance outpaces many peers and highlights Lockheed Martin’s capacity to fund ongoing research and development investments without relying on external financing.

As of the end of the latest reporting period, Lockheed Martin’s contractual backlog stood at $179 billion, up 5% from the prior year. This includes orders for F-35 fighter jets, C-130J transport aircraft, helicopters and missile defense systems. The company delivered 220 new aircraft across all platforms in the first three quarters—63 helicopters, two C-130Js, 12 F-16s and 143 F-35s—providing clear evidence of its production scale and execution capabilities.

Lockheed Martin maintains a 2.9% dividend yield, having increased its quarterly payout for 23 consecutive years. The company returned $2.1 billion to shareholders in dividends during the past twelve months and repurchased $1.8 billion of common stock year to date. Given its strong free cash flow generation and disciplined capital allocation framework, Lockheed Martin is positioned to continue supporting dividend growth and share repurchases in the years ahead.