Every material Form 8-K Lockheed Martin has filed with the SEC since December 09, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Lockheed Martin reported third-quarter 2026 sales of $20.7 billion, up 11%, and net earnings of $1.8 billion, or $7.97 per diluted share, up from $6.95 a year earlier. The company raised its 2026 guidance for sales, earnings per share and free cash flow for the second consecutive quarter, but said costs on the F-35 Lot 20 advance acquisition contract have exceeded current U.S. Government authorization and funding, which would hurt future results without additional funding.
Third-quarter sales rose to $20.7 billion from $18.6 billion; net earnings rose to $1.8 billion from $1.6 billion
Cash from operations fell to $3.4 billion from $3.7 billion, and free cash flow fell to $3.0 billion from $3.3 billion
2026 guidance raised: diluted EPS to about $30.35 to $30.75 from $29.95 to $30.65; free cash flow to about $7.8 billion to $8.0 billion from $7.0 billion to $7.2 billion
Backlog reached a record $292.0 billion, including $52.5 billion tied to the PAC-3 MSE interceptor award
Lockheed Martin entered a new $2.25 billion 364-day unsecured revolving credit facility on August 24, 2026, replacing a prior 364-day facility dated December 5, 2025, with no borrowings made at closing. It also extended its existing $3.0 billion 5-year revolving credit agreement by one year, to August 24, 2031. The filing describes committed backup liquidity rather than new debt drawn, and it does not state any change to the company's financial results.
New 364-day revolving credit facility of $2.25 billion, dated August 24, 2026; no borrowings made at closing
Facility matures August 23, 2027, with an option to convert outstanding borrowings into a one-year term loan for a fee of 0.50%
5-year $3.0 billion revolving credit agreement extended from August 24, 2030 to August 24, 2031
Term SOFR margin ranges from 0.585% to 1.085%, based on senior unsecured credit ratings
Lockheed Martin reported second quarter 2026 sales of $20.1 billion, up 11% from a year earlier, and net earnings of $1.8 billion, or $7.94 per diluted share, compared with $342 million, or $1.46 per share, in the prior-year quarter that included $1.6 billion of program losses. The company raised its full-year 2026 outlook for sales, segment operating profit, diluted EPS and free cash flow, and reported a record backlog of $230 billion.
Q2 2026 sales $20.1 billion vs. $18.2 billion in Q2 2025; net earnings $1.8 billion, or $7.94 per diluted share, vs. $1.46 per share
Free cash flow $2.9 billion in Q2 2026 vs. $(150) million in Q2 2025; record backlog of $230 billion
Lockheed Martin reported first quarter 2026 sales of $18.0 billion, flat from a year earlier, while net earnings fell to $1.5 billion, or $6.44 per share, from $1.7 billion, or $7.28 per share. Free cash flow was negative $291 million, compared with $955 million a year earlier, and the company reaffirmed its 2026 full-year outlook, which calls for sales of $77.5 billion to $80.0 billion and diluted EPS of $29.35 to $30.25.
Sales of $18,021 million vs $17,963 million a year earlier
Net earnings of $1,488 million, or $6.44 per share, vs $1,712 million, or $7.28 per share
Business segment operating profit fell $262 million, or 13%, to $1,823 million, mainly on lower profit booking rate adjustments at Aeronautics
Reaffirmed 2026 outlook: free cash flow of $6.5 billion to $6.8 billion
Lockheed Martin reported fourth-quarter and full-year 2025 results on January 29, 2026. Full-year sales rose 6% to $75.0 billion and a record $194 billion backlog, but net earnings fell to $5.0 billion, or $21.49 per share, from $22.31 in 2024, after a $479 million pension settlement charge and program losses. The company expects 2026 sales of $77.5 billion to $80.0 billion and diluted EPS of $29.35 to $30.25.
Q4 2025 sales were $20.3 billion, up from $18.6 billion, and diluted EPS was $5.80, up from $2.22 a year earlier.
Full-year 2025 business segment operating profit was $6.7 billion, up from $6.1 billion, and free cash flow was $6.9 billion.
2026 outlook: sales of $77.5 billion to $80.0 billion, diluted EPS of $29.35 to $30.25, and free cash flow of $6.5 billion to $6.8 billion, which the company said is an increase from its prior expectation.
On December 16, 2025, Lockheed Martin converted group annuity contracts so that insurance companies took on about $900 million of gross pension obligations for roughly 9,000 U.S. retirees and beneficiaries. The company expects a non-cash, non-operating pretax settlement charge of approximately $480 million in the fourth quarter of 2025, which was not included in its October 21, 2025 outlook, so shareholders may see a large one-time charge against 2025 results.
Gross pension obligations of approximately $900 million transferred to insurance companies on December 16, 2025, with no additional costs or funding contributions required by the company
Expected non-cash, non-operating pretax settlement charge of approximately $480 million in Q4 2025
Charge was not included in the prior 2025 financial outlook released October 21, 2025
No change to the nature, amount, or timing of benefit payments for about 9,000 retirees and beneficiaries
Lockheed Martin entered into a new $3.0 billion 364-day unsecured revolving credit agreement on December 5, 2025, which can be used for general corporate purposes, including supporting commercial paper borrowings. No borrowings were made at closing. The facility matures December 4, 2026, with an option to convert outstanding borrowings into a one-year term loan.
Facility size: $3.0 billion unsecured revolving credit, dated December 5, 2025, with Bank of America as administrative agent
Maturity: December 4, 2026, with an option to extend outstanding borrowings as term loans payable December 4, 2027
Pricing: Term SOFR margin of 0.585% to 1.085% based on credit ratings; facility fee of 0.04% on commitments
No borrowings were drawn at closing; the filing lists a $300 million judgment threshold as one default trigger
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