Lockheed Martin falls on lower Q1 profit

Lockheed Martin

23/04/2026 11:56

** Shares of defense contractor Lockheed Martin LMT.N fall 5.5% to $525.17 premarket

** Company cites high costs and production slowdown on some programs for lower Q1 profit

** LMT's aeronautics unit profit weighed down by delays in F-16 and C-130 aircraft

** Q1 sales in rotary and mission systems business down 8%

** Company grappling with inflationary cost pressures, tariffs and increased expenses on fixed-price programs negotiated years ago

** Posts Q1 profit of $6.44 per share, compared with $7.28 a year earlier

** Median price target of 25 analysts covering the stock is $665.00, while their average recommendation is "hold" - data compiled by LSEG

** As of last close, LMT shares up 14.8% this year, outperforming a 4.3% rise in S&P 500 .SPX index

 (Reporting by Utkarsh Tushar Hathi)

 ((utkarshtushar.hathi@thomsonreuters.com))