Seeking Alpha
26 Oct 2026, 20:46 UTC · 1h ago
Lockheed Martin Q3 2026: Shattering 9-Month Expectations With A Record $292B Backlog
Impact · against what's priced in
The record $292B backlog and outperformance in core segments provide a bullish signal, but the impact is dampened because the market already factors in a record backlog and raised guidance. The news primarily validates the bull case for revenue acceleration that the market has previously declined to price in.
- LMT+0.30
Challenges what's priced in
- The price assumes
The full revenue acceleration from Missiles and Fire Control (13.9% YoY) and Space, which the price treats as a temporary spike rather than a permanent shift.
The report of 'significant profit growth' in Aeronautics and Missiles & Fire Control that 'exceeded modeled expectations' supports the permanent shift in growth that the market has so far declined to price in.
What LMT's price assumes · Sep 11
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