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Lockheed Martin Lifts 2025 Outlook as Record $179 Billion Backlog Sets Stage for Expansion

Management raised its 2025 outlook on multi‑year awards including a definitized F‑35 order.

Overview

  • Q3 FY2025 sales rose 8.7% year over year to $18.6 billion with net earnings of $1.6 billion, or $6.95 per share, and free cash flow of roughly $3.3 billion.
  • Backlog reached a record $179 billion, providing more than two and a half years of revenue visibility across major programs.
  • Full‑year guidance increased to $74.25–$74.75 billion in sales and $22.15–$22.35 in diluted EPS, with higher segment operating profit targets.
  • The company secured roughly $30 billion in multi‑year awards for PAC‑3, JASSM/LRASM, and CH‑53K, and finalized F‑35 Lots 18–19 for $11 billion covering 151 aircraft.
  • Management outlined plans to expand production capacity and invest in digital and manufacturing capabilities to meet sustained U.S. and allied demand.