Oct 22 (Reuters) - Lockheed Martin raised its full-year sales and profit forecasts on Thursday after posting a rise in third-quarter earnings, helped by strong demand for its missile defense systems and fighter jets due to ongoing geopolitical conflicts.
The company, a key supplier of missile-defense systems such as PAC-3 and THAAD interceptors, joined RTX and Northrop Grumman in raising forecasts this week on strong demand for munitions, air-defense systems and military aircraft.
Lockheed now expects
2026 sales of about $80 billion to $82 billion, up from its prior forecast of $79.75 billion to $81.75 billion.
The US defense contractor also lifted its annual earnings-per-share forecast to range between $30.35 and $30.75 from its previous view of $29.95 to $30.65.
The company's backlog rose 27% sequentially to a record $292 billion, boosted by a $52.5 billion multi-year award for PAC-3 Missile Segment Enhancement interceptors, stockpiles of which were heavily used by US and allied forces in the Iran war.
Lockheed also raised its 2026 free cash flow forecast to about $7.8 billion to $8 billion, from $7 billion to $7.2 billion earlier.
However, the company warned it remains in negotiations with the US government over production contracts for F-35 Lots 20 and higher, and said future operations and cash flow could be affected if additional contractual authorization and funding are not received.
Sales for the quarter ended on September 27 rose 11% to $20.71 billion, driven by 24% growth in its missiles unit on higher PAC-3 and THAAD production and a 13% increase in aeronautics revenue from F-35 and C-130 programs.
Profit increased 14% to $1.85 billion, or $7.97 per share.
(Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Leroy Leo)
