Lockheed Martin — Apr 23, 2026 release

“Our first quarter revenue of more than $18 billion, segment operating profit of $1.8 billion, and substantial backlog were a result of both strong customer demand, our continued commitment to operational performance and focused risk management. We reaffirm our 2026 full year guidance with anticipated sales and operating profit growth of approximately 5% and 25% year-over-year, respectively, and expected free cash flow between $6.5 and $6.8 billion.” 1 Summary Financial Results The following table presents the company's summary financial results: (in millions, except per share data) Quarters Ended   March 29, 2026 March 30, 2025 Sales $ 18,021   $ 17,963  Business segment operating profit 1 $ 1,823   $ 2,085  Unallocated items     FAS/CAS pension operating adjustment 421   379  Intangible asset amortization expense (50) (64) Other, net 2 (131) (28) Total unallocated items 240   287  Consolidated operating profit $ 2,063   $ 2,372  Net earnings $ 1,488   $ 1,712  Diluted earnings per share $ 6.44   $ 7.28  Cash from operations $ 220   $ 1,409  Capital expenditures (511) (454) Free cash flow 1 $ (291) $ 955  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 Other, net for the quarter ended March 29, 2026 included net losses of $44 million ($33 million, or $0.14 per share, after-tax) due to changes in fair value of net assets and liabilities for deferred compensation plans, compared to net gains of $29 million ($22 million, or $0.09 per share, after-tax) for the quarter ended March 30, 2025. Cash from op