Lockheed Martin — Oct 21, 2025 release

  (in millions, except per share data) Current Update 2 July 2025         Sales ~$74,250 - $74,750 ~$73,750 - $74,750     Business segment operating profit 1 ~$6,675 - $6,725 ~$6,600 - $6,700 Total FAS/CAS pension adjustment ~$1,125 ~$1,125 Diluted earnings per share ~$22.15 - $22.35 ~$21.70 - $22.00   Cash from operations ~$8,500 ~$8,500 - $8,700 Capital expenditures ~$1,900 ~$1,900 Free cash flow 1 ~$6,600 ~$6,600 - $6,800 1 Business segment operating profit and free cash flow are non-GAAP measures. See the "Use of Non-GAAP Financial Measures" section of this news release for more information. 2 The 2025 financial outlook incorporates the company's current assessment of the impact of tariffs and related recovery of tariffs on its contracts. However, the company cannot predict how tariffs will evolve and the actual impacts may differ from the company's expectations. It also does not include potential non-cash charges associated with the conversion of pension annuity contracts that the company may execute as early as the fourth quarter of 2025. 3 Segment Results The company operates in four business segments organized based on the nature of products and services offered: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space. The following table presents summary operating results of the company's business segments and reconciles these amounts to the company's consolidated financial results. (in millions) Quarters Ended Nine Months Ended   Sept. 28, 2025 Sept. 29, 2024 Sept. 28, 2025 Sept. 2