LMT: Lockheed Martin Shares Slide Following Earnings Miss and Soft Bookings

Lockheed Martin Shares Slide Following Earnings Miss and Soft Bookings

Apr 24, 2026 19:09 UTC

LMT

Short term

Lockheed Martin (NYSE: LMT) capped a nine-day losing streak with a 4% drop on Friday, as the defense giant reported quarterly results that missed Wall Street's projections on both the top and bottom lines. The sell-off was triggered by a per-share profit that came in $0.30 below forecasts, coupled with flat year-over-year sales and negative free cash flow for the period. A primary point of contention for analysts is the company's book-to-bill ratio, which fell to 0.6. RBC Capital highlighted this softness in bookings as a key reason for its 'sector perform' rating, noting that such a ratio typically signals a future decline in sales. In response to the data, four analysts slashed their price targets. Morgan Stanley lowered its target to $653, Bank of America to $600, and RBC Capital to $575. Susquehanna remained the most optimistic of the group, lowering its target to $700. Despite the current volatility, Lockheed management maintains a positive outlook, forecasting sales growth between 3% and 6% for the year. The company cited multi-year Pentagon contracts aimed at significantly increasing missile production as a primary catalyst for future revenue recovery.

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Lockheed Martin Shares Slide Following Earnings Miss and Soft Bookings

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