Lockheed Martin reported a 9.1% year-over-year increase in fourth-quarter revenue to $20.3 billion, supported by record F-35 fighter jet deliveries and accelerated missile shipments. Net earnings for the quarter rose to $1.3 billion, or $5.80 per share, compared with $527 million, or $2.22 per share, a year earlier. For full-year 2025, sales climbed 6% to $75.0 billion and net earnings reached $5.0 billion (or $21.49 per share), reflecting broad-based strength across Aeronautics, Rotary and Mission Systems, and Space segments.

At year-end, the company’s order backlog hit a record $194 billion, up from $181 billion twelve months prior. In response to escalating demand for interceptor missiles and air-dominance platforms, management announced plans to quadruple annual THAAD interceptor output from 96 to 400 units under a newly signed framework agreement with the U.S. Department of War. Concurrently, PAC-3 production is set to scale under a seven-year pact, while over $3.5 billion was invested in 2025 to expand capacity, modernize 20+ facilities and integrate advanced manufacturing technologies.

Lockheed Martin forecasts 2026 sales growth of approximately 5% and segment operating profit expansion of roughly 25%, underpinned by sustained Defense Department procurement of fighter jets, missiles and unmanned systems. Free cash flow is projected between $6.5 billion and $6.8 billion, exceeding prior guidance. The company’s capital plan includes multibillion-dollar investments over the next three years to bolster production in Arkansas, Alabama, Florida, Massachusetts and Texas, with targeted creation of tens of thousands of U.S. manufacturing, engineering and skilled-trade positions.