Demand
← 실적 발표
01
02
03
04 05 06
톤
AI
자본지출
A1 A2
LMT
FY2026 Q1
예상 부합
Lockheed Martin Corporation 실적 발표
Buzzberg 분석
Peru orders 12 F-16s, first direct commercial sale in decades
Lockheed Martin reported solid Q1 2026 results with $18B revenue, maintained full-year guidance, and highlighted massive production ramp-ups in missiles (PAC-3) funded by multi-year government agreements. Key cross-company signals include supplier commitments from Boeing (seekers), L3Harris (rocket motors), Northrop (potential new source), and a joint venture with General Dynamics on solid rocket motors. F-35 demand remains strong with increased budget quantities. The call focused on execution, scaling capacity, and supply chain resilience. PAC-3 production to triple from 650 to 2,000 units per year over 3-4 years, underpinned by multi-year commercial-style contracts with government clawback protection.
Buzzberg 분석 Peru orders 12 F-16s, first direct commercial sale in decades Lockheed Martin reported solid Q1 2026 results with $18B revenue, maintained full-year guidance, and highlighted massive production ramp-ups in missiles (PAC-3) funded by multi-year government agreements. Key cross-company signals include supplier commitments from Boeing (seekers), L3Harris (rocket motors), Northrop (potential new source), and a joint venture with General Dynamics on solid rocket motors. F-35 demand remains strong with increased budget quantities. The call focused on execution, scaling capacity, and supply chain resilience. PAC-3 production to triple from 650 to 2,000 units per year over 3-4 years, underpinned by multi-year commercial-style contracts with government clawback protection. 전체 분석 보기분석 접기
Lockheed Martin reported solid Q1 2026 results with $18B revenue, maintained full-year guidance, and highlighted massive production ramp-ups in missiles (PAC-3) funded by multi-year government agreements. Key cross-company signals include supplier commitments from Boeing (seekers), L3Harris (rocket motors), Northrop (potential new source), and a joint venture with General Dynamics on solid rocket motors. F-35 demand remains strong with increased budget quantities. The call focused on execution, scaling capacity, and supply chain resilience. PAC-3 production to triple from 650 to 2,000 units per year over 3-4 years, underpinned by multi-year commercial-style contracts with government clawback protection.
- L3Harris spinning out SRM business with government support; Boeing investing in seeker capacity; Northrop exploring Patriot SRM entry; Lockheed/GD joint venture on solid rocket motors.
- F-35 remains dominant: budget request increased to 85 units (from 47), and aircraft demonstrated unmatched combat networking in recent operations.
- Lockheed is subcontractor to Palantir and Anduril on some programs, showing cooperative dynamics with new entrants.
매출$18.021B-11% 전분기 대비
주당순이익(EPS)$6.44+11% 전분기 대비
매출총이익률11.53%보고값
영업이익률11.45%보고값
근거 있는 핵심 내용 6개
지금 중요한 점
이번 발표에서 가장 의미 있는 변화를 정리했습니다.
Capex
PAC-3 production to quadruple; new $4.8B contract signed
Execution
Artemis II mission successful; Orion spacecraft performed flawlessly
핵심 내용 3개 더 보기
Demand
F-35 proves combat value; budget requests 85 units
Execution
C-130 deliveries resume; four aircraft delivered
Guidance
Cash flow expected to improve; IRS guidance supports upper end
보고 기간
보고 실적
| 지표 | 보고값 | 변화 |
|---|---|---|
| 매출 | $18.021B | -11% 전분기 대비 |
| 주당순이익(EPS) | $6.44 | +11% 전분기 대비 |
| 매출총이익률 | 11.53% | 보고값 |
| 영업이익률 | 11.45% | 보고값 |
| 잉여현금흐름 | $-0.291B | 보고값 |
| 자본지출 | $0.511B | 보고값 |
향후 전망
향후 가이던스
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| 자본지출 | FY2026 | $2.5B–$2.8B | $2.65B | 유지 |
| 잉여현금흐름 | FY2026 | $6.5B–$6.8B | $6.65B | 유지 |
| 영업이익률 | FY2026 | $8.4B–$8.7B | $8.55B | 유지 |
AI, 자본지출 및 수요 분석
경영진 분석
Confident
Management expressed confidence in demand, execution, and risk mitigation, citing strong operational performance and supportive government partnerships.
경영진의 AI 분석
Management discussed deploying AI both internally for business processes and into products like target recognition and battle management, using a centralized AI center with external models on secured infrastructure, and highlighted AI-assisted targeting for F-35.
투자 및 생산능력
Management is significantly expanding production capacity and investing heavily in facilities for munitions ramps, with a $4.8 billion PAC-3 contract and construction/modernization of over 20 facilities, and full-year 2026 capex guidance of $2.5-2.8 billion.
아래에 언급된 기업 6개 모두 표시
기업발표 이후 수익률
고객
PLTR
+5.7%
ANDURIL
고객
Jim Taklett
Lockheed acts as a subcontractor to Palantir, indicating a cooperative rather than purely competitive dynamic in certain defense programs.
근거
“We're a subcontractor to Palantir and Anduril in some cases, frankly.”
파트너
파트너
Jim Taklett
Lockheed and GD are jointly developing solid rocket motor capacity, a strategic partnership to de-risk the most critical supply chain element for PAC-3.
근거
“General Dynamics, Lockheed Martin teaming on solid rocket motors.”
공급업체
공급업체
Jim Taklett
Northrop Grumman may become a second source for Patriot solid rocket motors, reducing single-supplier risk for Lockheed's missile ramp.
근거
“Northrop Grumman is looking at expanding its solid rocket motor business potentially into Patriot.”
공급업체
Jim Taklett
L3Harris is restructuring its solid rocket motor business with government backing, directly enabling Lockheed's PAC-3 production acceleration.
근거
“L3Harris is spinning out its SRM business and also has support from the U.S. government to finance and fund their expansion.”
공급업체
Jim Taklett
Boeing is making a public commitment to invest in PAC-3 seeker capacity, a critical component for Lockheed's plan to triple PAC-3 production from 650 to 2,000 units per year. — Boeing's seeker ramp is a direct enabler of Lockheed's production surge; failure or delay would ripple through the entire missile supply chain.
근거
“Boeing has similarly made a public commitment and one to the government that says, hey, we're going to invest in that seeker business.”
외부 신호
공급망 알파 · 2발표 이후 수익률
Solid rocket motor capacity is the key bottleneck for PAC-3 ramp; L3Harris is spinning out its SRM business with government support, Northrop is evaluating entry, and Lockheed/GD are joint-venturing to add capacity. This is a multi-year supply chain build-out.
근거
“General Dynamics, Lockheed Martin teaming on solid rocket motors. L3Harris is spinning out its SRM business and also has support from the U.S. government.”
Boeing is making a public commitment to invest in PAC-3 seeker capacity, a critical component for Lockheed's plan to triple PAC-3 production from 650 to 2,000 units per year.
방법론 및 범위
경영진 발언만 분석합니다. 검증된 기업 언급 6개를 모두 표시하며, 보고 실적과 향후 가이던스를 분리합니다. 공개 근거는 화자가 표시된 짧은 인용문 8개로 제한됩니다. AI 분석은 불완전하거나 틀릴 수 있으므로 중요한 주장은 원문에서 확인하세요.