Lockheed Martin Reports Strong Q3 2025 Growth Driven by F-35 and Defense Backlog Expansion
Bethesda, Md. — October 22, 2025 — Lockheed Martin Corporation reported a solid performance in the third quarter of fiscal year 2025, posting $18.6 billion in sales, a 9% increase from the same period last year, alongside a record $179 billion backlog that reinforces its long-term growth trajectory.
The aerospace and defense giant recorded net earnings of $1.6 billion, or $6.95 per share, for the quarter. Lockheed returned $1.8 billion to shareholders through share repurchases and dividends, and increased its quarterly dividend by 5% to $3.45 per share.
The company also generated $3.7 billion in operating cash and $3.3 billion in free cash flow, highlighting robust financial health amid growing defense demand.
CEO Jim Taiclet on Backlog, F-35 Milestone, and Golden Dome
Lockheed’s Chairman, President, and CEO Jim Taiclet emphasized the company’s expanding defense portfolio and customer trust:
“Our record **$179 billion backlog—more than two and a half years of sales—underscores the trust our customers place in us and underpins our company’s long-term growth prospects,”
He highlighted major new awards for the CH-53K heavy-lift helicopter and the PAC-3 MSE interceptor, the largest-ever contracts for the company’s Rotary and Mission Systems and Missiles and Fire Control segments, respectively.
Lockheed also achieved a record delivery of 143 F-35 Lightning II jets through the end of Q3 2025, following the finalization of contracts for Lots 18 and 19 early in the fourth quarter.
Taiclet reaffirmed Lockheed’s commitment to supporting the U.S. government’s “Golden Dome for America” homeland missile defense initiative.
“Lockheed Martin is ready and well-positioned with existing products, expertise, and production capabilities,” he told analysts. “The space domain will play a vital role, and we continue to make significant progress to advance space-based defense.”
He also noted the company’s broad industry partnerships in developing prototype systems to ensure the government receives the best possible solutions across missiles, sensors, battle management systems, and satellite integration — key components of the Golden Dome architecture.
Q3 2025 Segment Results
Aeronautics: $7.2 billion in sales, up 12%, driven by higher F-35 production and sustainment contracts.
Missiles and Fire Control: $3.6 billion, up 14%, reflecting strong performance in tactical and strike missile programs, including the LRASM, JASSM, and precision fires programs.
Rotary and Mission Systems: $4.37 billion, flat year-over-year, as gains in Black Hawk and C6ISR programs offset lower Aegis and CSC volumes.
Space: $3.4 billion, up 9%, supported by growth in strategic and missile defense and national security space projects.
With rising global demand for advanced defense systems, Lockheed’s financial strength and program expansion continue to position it as a key player in the modernization of U.S. and allied military capabilities.
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