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Mar 30, 2025
Lockheed Martin Q1 2025 Earnings Report
Lockheed Martin reported increased earnings and revenue in Q1 2025 driven by growth across multiple business segments.
Key Takeaways
Lockheed Martin delivered strong Q1 2025 results, with revenue reaching $18 billion and net income of $1.7 billion. Solid performance in missiles, aeronautics, and rotary systems supported earnings growth, despite a year-over-year decline in free cash flow.
Revenue rose to $18 billion, up from $17.2 billion last year
Net income increased to $1.7 billion with EPS of $7.28
Free cash flow dropped to $955 million due to timing of payments and higher software expenditures
Lockheed returned $1.5 billion to shareholders via dividends and buybacks
Revenue by Segment
Forward Guidance
Lockheed Martin reaffirmed its 2025 financial outlook, expecting solid full-year performance backed by a strong backlog and operational focus.
Positive Outlook
- Full-year revenue guidance between $73.75B and $74.75B
- EPS forecasted between $27.00 and $27.30
- Strong free cash flow outlook of $6.6B–$6.8B
- Cash from operations projected at $8.5B–$8.7B
- Strong bookings including $10B in new missile contracts
Challenges Ahead
- Free cash flow declined YoY in Q1 due to higher software spend
- Cash from operations dropped $226M YoY
- Space segment saw reduced national security sales
- No inclusion yet of impacts from recent policy shifts like NGAD
- Potential risks from evolving geopolitical and supply chain factors
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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