Lockheed Martin Corp

Company facts

Industry

Guided Missiles & Space Vehicles & Parts

Headquarters

Bethesda, Maryland

Most recent report

10-Q, filed Oct 22, 2026

Incorporated

Maryland

Filings on record

1,001+ filings

On EDGAR

CIK 936468

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 3 of 11 sections worth reading, with 1 positive, 9 notable, and 5 negative flags.

• Financial Statements (Item 1)

  Large loss programs, new guarantee, and acquisition details are company-specific and material.
  Notable

  • F-35 program sales were 27% of total consolidated sales for both Q3 and nine months ended Q3 2026, up from 26% in 2025.
  • Contract assets jumped $3.9B to $16.9B in the nine months ended Q3 2026, mainly from F-35 and MFC programs.
  • Pre-contract costs in inventory rose to $1.9B as of Q3 2026, up from $1.5B at year-end 2025, mainly on classified and F-35 programs.
  • Lockheed agreed to acquire Ultra Maritime for $3.45B in cash, expected to close in Q4 2026.
  Negative

  • Cumulative losses on a classified Aeronautics program remain at $1.8B, with $394M accrued in current liabilities as of Q3 2026.
  • Cumulative losses on a classified MFC program remain at $1.5B, with $1.0B accrued in current liabilities as of Q3 2026.
  • Cumulative losses on the Canadian Maritime Helicopter Program remain at $670M, with $360M accrued in current liabilities as of Q3 2026.
  • Lockheed guaranteed up to $750M of ULA borrowings after ULA's Vulcan rocket faced performance challenges in Q1 2026.

• Management's Discussion (Item 2)

  MD&A with segment results, profit adjustments, F-35 funding risk, and tariff refunds.
  Positive

  • MFC sales up 24% in Q3 2026 to $4.5B on PAC-3, THAAD, GMLRS, PrSM production ramps.
  Notable

  • Received $225M in tariff refunds through nine months ended Sep 27, 2026; tariffs not expected to materially impact long-term results.
  • Unfavorable profit adjustments: $170M on F-16, $175M on C-130, $125M on Heavy Lift, $95M on Seahawk in 2026.
  • No share repurchases in nine months ended Sep 27, 2026 vs $2.3B in prior year; debt repaid $1.2B.
  Negative

  • F-35 Lot 20 costs exceed authorization; no new contract yet, risking future cash flows.

• Unregistered Sales and Repurchases (Item 2)

  Zero open-market buybacks despite $8.3B authorization; only tax-withholding share retirements.
  Notable

  • No open-market repurchases in Q3 2026, despite $8.3B remaining authorization.
  • Only 2,204 shares withheld for tax obligations, not a discretionary buyback.

What changed: Sep 2026 vs. Jun 2026

About 6% of LMT's Sep 2026 10-Q is new information. 16 paragraphs were added, 136 changed, and 48 removed. Below are the most important lines SECSift identified.

• Item 2 60
• Item 1 48
• Item 4 7
• Item 3 1
• Item 5 1
• Item 6 1