BUZZ - Lockheed Martin shares surge as it raises annual profit and revenue forecasts and signs F-35 agreement

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October 22 - ** Lockheed Martin Corporation (LMT.N) shares surged 9.4% to $603.12

** If the rally holds, the stock will post its best single-day performance in nearly three months

** The defense contractor raised its fiscal 2026 revenue forecast range to $80 billion to $82 billion, from previous guidance of $79.75 billion to $81.75 billion

** Fiscal 2026 earnings per share (EPS) expected at $30.35 to $30.75, previously forecast at $29.95 to $30.65

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

** Reported third quarter revenue of $20.71 billion, up 11% year-on-year, exceeding analyst estimates compiled by LSEG of $20.51 billion

** This quarter missile segment sales rose 24%, and aeronautics segment sales rose 13%

** According to LSEG data, third quarter EPS was $7.97, beating the estimate of $7.43

** Driven by a $52.5 billion PAC-3 MSE multi-year contract, backlog rose 27% quarter-on-quarter to a record $292 billion

** As of the previous trading day's close, shares are up 14% year-to-date

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