BUZZ - Lockheed Martin Q3 earnings beat expectations and outlook raised, stock price rises; 10-year F-35 agreement finalized

October 22 - ** Lockheed Martin Corporation (LMT.N) shares rose more than 2% in pre-market to $563.17

** The defense contractor expects fiscal 2026 sales to reach $80 billion to $82 billion, previously forecast at $79.75 billion to $81.75 billion

** Projects fiscal 2026 earnings per share (EPS) to be $30.35 to $30.75, previously expected at $29.95 to $30.65

** Signed a 10-year framework agreement with the US Department of Defense for at least 850 F-35 "Lightning II" fighter jets (link)

** Reported third-quarter sales of $20.71 billion, up 11% year-over-year, exceeding the analyst consensus compiled by LSEG of $20.51 billion

** This quarter missile business sales rose by 24%, aeronautics business grew by 13%

** According to LSEG data, third-quarter earnings per share was $7.97, higher than the expected $7.43

** Driven by a multi-year PAC-3 MSE contract worth $52.5 billion, order backlog increased by 27% quarter-on-quarter, reaching a record $292 billion

** As of the close of the previous trading day, the stock had risen 14% year-to-date

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