Lockheed Martin Corporation (LMT) earnings on July 23, 2026

Before the market opens Q2 2026

More Lockheed Martin Corporation earnings

Prior outlook: No statistical edge

Lockheed Martin stock surged after reporting a record $230 billion in future orders, closing up 10%.

LMT price around the earnings

568.59

Change: +10.4%

2026-07-23, 20:00 UTC

Start of the measured window End of the measured window
515.09 535.25 555.40 575.56 515.09
Price series around the eventClosing price per minute from before the event to the end of the measured window.
July 23, 2026
  • Price: green if it ends above the starting price; red if it ends below
  • Start of the measured window
  • End of the measured window
  • Market open
  • Starting price
Price series around the event

Prior thesis

Prior outlook: No statistical edge

Thesis published
Results released

Pre-release: Strong analyst upside contrasts with poor historical earnings and volatile price trajectory into the event.

Context analyzed before publication

Trend
Trajectory volatile: peaked at 20.0 (Jul 21), dipped to -35.2 (Jul 22), recovered to 12.4 (Jul 23).

Analysts

Evidence

Analyst consensus
Hold
Consensus average (1-5)
2.52
Analysts covering the stock
19
Average price target
606.68
Lowest price target
487
Highest price target
756
Upside to price target
17.9%
Quarterly earnings growth
-13.1%
Revenue growth
0.3%
Forward EPS
32.09
Trailing EPS
20.64
Analyst moves in the last 60 days
2
  • Strong buy: 2
  • Buy: 5
  • Hold: 13
  • Sell: 1
  • Strong sell: 0
Strong buy
2
Buy
5
Hold
13
Sell
1
Strong sell
0
  • July 13, 2026 · TD Cowen: Maintains rating (Hold → Hold)
  • July 1, 2026 · Citigroup: Upgrades rating (Neutral → Buy)

News and sentiment

Evidence

Sentiment
Sentiment
Constructive
Mention volume
Low
Normalized volume
33%
News
Sources (5)

Technicals

Evidence

Average true range (ATR)
2.5%
Distance to 52-week high
-23.5%
14-day change (14d)
-2.5%
30-day change (30d)
+4.3%
30-day relative strength
+3.9%
SPY change (30d)
+0.4%
Nearest support
513.87
Nearest resistance
517.44
Volume accumulation ratio (14d / 46d)
0.85

Trends

Evidence

Average earnings surprise
-17.7%
  • April 23, 2026: actual EPS 6.44 vs estimate 6.69 (surprise -3.8%)
  • January 29, 2026: actual EPS 5.8 vs estimate 5.75 (surprise +0.9%)
  • October 21, 2025: actual EPS 6.95 vs estimate 6.36 (surprise +9.3%)
  • July 22, 2025: actual EPS 1.46 vs estimate 6.42 (surprise -77.3%)

Expected move

Implied move
+6.3%
Source
Options chain

Reactions over its last 20 earnings

Median move
3.7%
75th percentile move
5.8%
90th percentile move
9.3%
Up / down moves
9 / 11
Average up move
+3.2%
Average down move
-5.3%

Monitoring and close

What Lockheed Martin Corporation reported

Status
Finished
Actual EPS7.94
EPS estimate7.09
EPS surprise+12.0%
Revenue$20,063 million
Revenue estimate$19,344 million
Revenue surprise+3.7%

Lockheed Martin beats Q2 estimates and raises full-year outlook. Shares surge on record $230B backlog and strong defense demand.

Sources (42)

Pre-market second reading after the results

Verdict
Beat expectations

Heading into the open, the figures don't clearly confirm the prior scenario. In past cases, 1260 instances (86.2%) showed a similar outcome.

How the stock reacted

Consolidated
+10.1%
Max move
+11.8%

No verdict: the outlook took no direction, so there is nothing to score as a hit or a miss.