0001628280-26-049277
SEC filing洛克希德·马丁Q2营收20.1亿美元，同比增11%，创纪录积压2300亿美元，上调全年指引。
| 指标 | 本期 | 去年同期 | 同比 |
|---|---|---|---|
| Sales | $20,063M | $18,155M | +11% |
| Gross Profit | $2,446M | $734M | — |
| Consolidated Operating Profit | $2,479M | $748M | +231% |
| Business Segment Operating Profit (Non-GAAP) | $2,162M | $571M | +279% |
| Net Earnings | $1,836M | $342M | — |
| Diluted EPS (GAAP) | $7.94 | $1.46 | — |
| Cash from Operations | $3,235M | $201M | — |
| Free Cash Flow (Non-GAAP) | $2,917M | $(150)M | — |
| Backlog | $230,416M | — | — |
| 期间 | 指标 | 指引 | 口径 |
|---|---|---|---|
| FY2026 | Sales | ~$79,750 - $81,750M | — |
| FY2026 | Business Segment Operating Profit | ~$8,500 - $8,700M | Non-GAAP |
| FY2026 | Diluted EPS | ~$29.95 - $30.65 | GAAP |
| FY2026 | Cash from Operations | ~$9,200 - $9,400M | — |
| FY2026 | Free Cash Flow | ~$7,000 - $7,200M | Non-GAAP |
简评
洛克希德·马丁Q2 2026业绩强劲，营收$20.1B同比增11%，主要受各分部量增及弹药增产驱动。净利$1.8B（EPS $7.94）较去年同期$342M大幅改善，核心原因是去年同期Aeronautics部门机密项目及RMS部门CMHP/TUHP项目合计$1.6B的前瞻性亏损（reach-forward losses）基数效应，以及FAS/CAS养老金调整增加$43M。分部层面，Missiles and Fire Control表现最亮眼，营收增19%至$4.1B，营业利润增24%至$594M，受益于PAC-3、THAAD及PrSM生产爬坡；Aeronautics营收增9%至$8.1B，F-35生产合同量增贡献$475M。Space分部营业利润基本持平，营业利润率微降至10.6%。
管理层上调2026全年指引，营收预期从$77.5-80.0B上调至$79.75-81.75B，EPS从$29.35-30.25上调至$29.95-30.65，自由现金流从$6.5-6.8B上调至$7.0-7.2B。CEO Jim Taiclet强调21世纪安全战略成效，积压订单创纪录达$230B，含与导弹防御局签署的$35B THAAD多年期合同。现金流表现突出，经营现金流$3.2B、自由现金流$2.9B，主要受客户收款时点及税负降低推动。有效税率降至15.7%，受益于CAMT豁免。公司亦披露与GM Defense及Rheinmetall的合作以强化全球国防制造能力。