Equity Profile

LMT

Lockheed Martin Corporation

IndustrialsAerospace & Defense$138.2B

Jul21Tue

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Lockheed Martin Corporation (LMT) is a leading aerospace and defense company that plays a crucial role in national security and advanced technology. With a market cap of $138 billion, it focuses on developing advanced systems and technologies for military and civilian applications, making it significant in the defense sector.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and financial health, which investors closely monitor.

Not available

Revenue Growth

Revenue growth reflects the company's ability to increase sales and expand its market presence, essential for long-term success.

Not available

Wall Street expectations, options signals, track record, and call prep available with Pro.

LMT Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

-14.87%

Avg Stock Reaction

-2.91%

Last Quarter Recap

In Q1-2026, Lockheed Martin reported an EPS of $6.44, which was below the expected $6.67, resulting in a stock decline of 4.62% the following day. This miss continues a trend of mixed earnings surprises for the company.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations for Lockheed Martin's upcoming earnings are cautious, given the recent earnings misses and the lack of analyst estimates. Investors are looking for signs of recovery in profitability and revenue.

Bull Case

If Lockheed Martin can demonstrate strong demand for its defense products and show improvement in EPS, it could lead to a positive reaction from investors and a potential stock price increase.

Bear Case

Conversely, if the company reports another earnings miss or weak revenue growth, it may further erode investor confidence and lead to a significant decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for this quarter?

Given the recent trend of earnings misses, the EPS figure will be crucial in determining if the company can regain investor confidence.

How is revenue growth trending in key defense segments?

Understanding revenue growth in critical areas will help gauge the company's market position and future prospects.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Lockheed Martin's ability to rebound from recent earnings misses, as defense spending remains robust amid geopolitical tensions.

Supporting Evidence

The options market is pricing a smaller move than the historical average, indicating potential undervaluation of volatility.

The recent trend of mixed earnings surprises suggests that the company could surprise to the upside if demand remains strong.

Key Risk

If the EPS exceeds $6.70, it could shift the narrative toward a more optimistic outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Lockheed Martin can overcome recent earnings struggles and demonstrate solid growth.

Bull Confirmed If

An EPS of $6.70 or higher would confirm a positive outlook and suggest recovery in profitability.

Bear Confirmed If

An EPS below $6.40 would indicate ongoing challenges and could lead to further stock declines.

Pre-Earnings Positioning

Options Market

Implied Move

±4.0%

Historical Avg

±5.6%

Pricing cheap

The options market is pricing in a move of about 4% in either direction, suggesting that investors expect some volatility around the earnings report.

Options are pricing ±4.0% while LMT has averaged ±5.6% over the last 8 prints — setup is pricing cheap.

Detail

ATM IV

0.3%

30d HV

25.7%

Calls (730K)P/C Ratio: 0.42Puts (244K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Lockheed Martin beats expectations, history suggests a potential stock increase of around 0.73%, confirming a recovery narrative.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await clearer guidance.

Miss

A miss could lead to a decline of about 5.10%, further shaking investor confidence in the company's growth trajectory.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on defense contracts and government spending trends.
2Insights into operational efficiencies and cost management strategies.
3Details on new product developments or technological advancements.
4Management's outlook on future revenue growth and market conditions.
5Responses to questions about geopolitical impacts on defense spending.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

ICICI Bank Limited

Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and financial health, which investors closely monitor.

Not available

Revenue Growth

Revenue growth reflects the company's ability to increase sales and expand its market presence, essential for long-term success.

Not available

Wall Street expectations, options signals, track record, and call prep available with Pro.

LMT Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

-14.87%

Avg Stock Reaction

-2.91%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If Lockheed Martin can demonstrate strong demand for its defense products and show improvement in EPS, it could lead to a positive reaction from investors and a potential stock price increase.

Bear Case

Conversely, if the company reports another earnings miss or weak revenue growth, it may further erode investor confidence and lead to a significant decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for this quarter?

Given the recent trend of earnings misses, the EPS figure will be crucial in determining if the company can regain investor confidence.

How is revenue growth trending in key defense segments?

Understanding revenue growth in critical areas will help gauge the company's market position and future prospects.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Lockheed Martin's ability to rebound from recent earnings misses, as defense spending remains robust amid geopolitical tensions.

Supporting Evidence

The options market is pricing a smaller move than the historical average, indicating potential undervaluation of volatility.

The recent trend of mixed earnings surprises suggests that the company could surprise to the upside if demand remains strong.

Key Risk

If the EPS exceeds $6.70, it could shift the narrative toward a more optimistic outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Lockheed Martin can overcome recent earnings struggles and demonstrate solid growth.

Bull Confirmed If

An EPS of $6.70 or higher would confirm a positive outlook and suggest recovery in profitability.

Bear Confirmed If

An EPS below $6.40 would indicate ongoing challenges and could lead to further stock declines.

Pre-Earnings Positioning

Options Market

Implied Move

±4.0%

Historical Avg

±5.6%

Pricing cheap

The options market is pricing in a move of about 4% in either direction, suggesting that investors expect some volatility around the earnings report.

Options are pricing ±4.0% while LMT has averaged ±5.6% over the last 8 prints — setup is pricing cheap.

Detail

ATM IV

0.3%

30d HV

25.7%

Calls (730K)P/C Ratio: 0.42Puts (244K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Lockheed Martin beats expectations, history suggests a potential stock increase of around 0.73%, confirming a recovery narrative.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await clearer guidance.

Miss

A miss could lead to a decline of about 5.10%, further shaking investor confidence in the company's growth trajectory.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on defense contracts and government spending trends.
2Insights into operational efficiencies and cost management strategies.
3Details on new product developments or technological advancements.
4Management's outlook on future revenue growth and market conditions.
5Responses to questions about geopolitical impacts on defense spending.