Lockheed Martin Corp

LMT: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Lockheed Martin Earnings: A Slower Start to 2026 Than We Expected; Shares Around 15% Undervalued

Nicolas Owens

Apr 23, 2026

Revenue came in essentially flat at $18 billion compared with the year-ago quarter, while segment operating margin dropped nearly 150 basis points to 10.1%, mostly due to some lumpy volumes and accounting adjustments to legacy F-16, C-130, and helicopter programs.

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Lockheed Martin Corp

Lockheed Martin Earnings: A Slower Start to 2026 Than We Expected; Shares Around 15% Undervalued

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