Full Breakdown
Lockheed Martin and RTX Boost 2026 Outlook as Pentagon Seeks Weapon Restocks
7/24/2026, 3:26:01 AM
Core Event: Forecast Upswings Tied to Global Conflict Demand
On July 23, Lockheed Martin announced that it had raised its 2026 revenue outlook to $79.75 billion–$81.75 billion and its full-year per-share profit range to $29.95–$30.65, up from the prior guidance of $77.5 billion–$80 billion and $29.35–$30.25 respectively. Shares jumped 5.3% in pre-market trading. The aerospace and defense rival RTX made a similar lift, forecasting 2026 adjusted sales of $95 billion–$96 billion and adjusted earnings of $7.10–$7.25 per share, both above analyst expectations.
Background: Ongoing Wars Drive Pentagon Consumption
Pentagon data show that the United States has fired more than 50,000 rockets, missiles and rocket-propelled munitions since the start of the Russia-Ukraine war in 2022 and through the U.S. attack on Iran that began on February 28. President Donald Trump has repeatedly urged defense contractors to accelerate production, and his administration has proposed a $1.5 trillion military budget for fiscal 2027. The House of Representatives recently passed a defense policy bill authorizing $1.15 trillion in spending.
Data & Statistics: Revenue, Backlog, and Major Contracts
Lockheed’s missiles and fire-control segment posted a nearly 20% rise to $4.1 billion, driven by higher output of PAC-3 and Precision-Strike missiles and increased THAAD interceptor production after a $35 billion contract signed in June to quadruple output. The company’s total backlog grew to $230.4 billion, up 38.3% from $166.5 billion a year earlier. RTX’s overall backlog rose 22% to $289 billion, with $170 billion in commercial aerospace orders and $119 billion in defense. Raytheon, RTX’s weapons unit, saw sales climb 18% to $8.27 billion, and about half of its first-half bookings—$10 billion—came from international customers, $7 billion of which were European.
Official Statements & Responses
Lockheed Martin CEO Jim Taiclet said the government is granting “a lot more flexibility” to speed production, echoing Deputy Secretary of Defense Steve Feinberg’s repeated call for “faster, faster, faster.”
Verbatim Quotes
- “We're in active dialog looking at other potential opportunities. We do see a real opportunity here for more partnerships to scale production faster, particularly in Europe,” — CFO Evan Scott
