LMT / Q3 2026

Lockheed Martin

Reported: October 22, 2026

Published forecast

2026-10-20T08:37:57.955364+00:00

Opus 5.5 High in Shortcut

Shortcut

7.50

Shortcut normalized EPS

-0.3% vs Street

Off by $0.47 per share

Street

7.52

Street normalized EPS

Frozen October 18 snapshot

Off by $0.45 per share

Real

7.97

Issuer diluted EPS

Street win

Reported result · October 22 ↗ · Diluted EPS was $7.97 for the fiscal quarter ended September 27, 2026. Scored using the original convention equating CapIQ normalized EPS with issuer diluted EPS.

USD per diluted common share. Percentages use unrounded forecasts.

Model download

Explore the assumptions and calculations behind the forecast.

Open in Shortcut ↗Download XLSX ↓

Shortcut’s reasoning.

The four-segment backlog-conversion and margin build produces $20.15bn in revenue and normalized diluted EPS of $7.50 versus the Street’s $7.52.

Segment conversion rates, margins and diluted shares remain the original forecast judgments. Historical geographic and share-detail repairs preserved every scored EPS dependency.

On the record.

Reporting basis: Normalized diluted EPS per common share, USD (S&P Capital IQ basis; equals GAAP diluted for LMT)
Forecast completed: 2026-10-20T04:11:57.903706+00:00
Published: 2026-10-20T08:37:57.955364+00:00

Model assumptions and review notes

Weighted shares and unallocated Other net remain forecast judgments. Alternative share treatments give roughly$7.49 or$7.48 versus the retained$7.50; the original assumptions were not retuned.
Service-cost detail contains a residual allocation. Orders and closing backlog are placeholders and do not drive sales/EPS. Historical intersegment totals have offsetting$2m rounding/recast differences.
Guidance per-share phasing is approximate, and a guidance-history narrative differs from one recorded miss. Some FY bridge detail, source verification scope, contextual period bands and long-note wrapping remain limited.

Research sources