Lockheed Martin surges after annual profit, revenue forecast hikes, F-35 agreement

Lockheed Martin

Today 14:48

Updates
** Lockheed Martin LMT.N shares rise surge 9.4% to $603.12
** If gains hold, stock set to mark its best day in 3 months
** The defense contractor raises its FY26 sales forecast range to $80 billion to $82 billion, vs $79.75 billion to $81.75 billion earlier
** Forecasts FY26 EPS of $30.35 to $30.75, vs prior view of $29.95 to $30.65
** Finalizes a 10-year framework agreement with the US Department of Defense for at least 850 F-35 Lightning II fighter jets
** Posts Q3 sales of $20.71 billion, up 11% y/y, beating analysts' estimates of $20.51 billion - data compiled by LSEG
** Missiles unit sales rise 24% during the quarter, aeronautics rise 13%  
** Q3 profit of $7.97 per share beats estimates of $7.43, as per LSEG data  
** Backlog rises 27% sequentially to record $292 billion, boosted by $52.5 billion multi-year PAC-3 MSE award  
** As of last close, stock up 14% YTD

 (Reporting by Miraanta Lowrance in Bengaluru)
 ((miraanta.lowrance@thomsonreuters.com))