Lockheed Martin — Jan 29, 2026 release

  (in millions, except per share data) 2026 Outlook         Sales $77,500 - $80,000     Business segment operating profit 1 $8,425 - $8,675 Total FAS/CAS pension adjustment ~$1,365 Diluted earnings per share $29.35 - $30.25   Cash from operations $9,150 - $9,450 Capital expenditures $2,500 - $2,800 Free cash flow 1 $6,500 - $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. 4 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 Dec. 31, Years Ended Dec. 31,   2025 2024 2025 2024 Sales     Aeronautics $ 8,524   $ 8,009  $ 30,257   $ 28,618  Missiles and Fire Control 4,020   3,412  14,450   12,682  Rotary and Mission Systems 4,616   4,261  17,312   17,264  Space 3,161   2,940  13,029   12,479  Total sales $ 20,321   $ 18,622  $ 75,048   $ 71,043  Operating profit     Aeronautics $ 782   $ 434  $ 2,086   $ 2,523  Missiles and Fire Control 535   (804) 1,989   413  Rotary and Mission Systems 468   513  1,323   1,921  Space 273   283  1,345   1,226  Total busines