Exhibit 99.1 "This notable start to 2026 reinforces our confidence in Lockheed Martin's continued operational and financial growth in the year ahead. We expect sales and reported segment operating profit growth of approximately 5% and 25% year-over-year, respectively, and free cash flow between $6.5 to $6.8 billion, an increase compared to our prior expectation. With a strong emphasis on operational performance and clear alignment with our customers' national defense priorities, we will continue to deliver ...

Core Insights - Lockheed Martin Corporation reported a strong financial performance for the fourth quarter of 2025, with sales of $20.3 billion, a 9.2% increase from $18.6 billion in the same quarter of 2024. Net earnings reached $1.3 billion, or $5.80 per share, compared to $527 million, or $2.22 per share, in the previous year [1][6][12] Financial Performance - The company achieved a total sales increase of 6% year-over-year, reaching $75.0 billion in 2025, up from $71.0 billion in 2024 [6][19] - Net earnings for 2025 were $5.0 billion, or $21.49 per share, which included a pension settlement charge of $479 million [6][10] - Cash from operations was $8.6 billion in 2025, with free cash flow of $6.9 billion after a pension contribution of $860 million [6][8] Operational Highlights - Lockheed Martin's backlog reached a record $194 billion at the end of 2025, indicating strong demand for its products and services [2][6] - The company invested over $3.5 billion in production capacity and next-generation technologies throughout 2025 to meet increasing demand [2][3] Segment Performance - Aeronautics segment sales increased to $8.5 billion in Q4 2025, up from $8.0 billion in Q4 2024, driven by higher sales on classified programs and the F-35 program [17][18] - The Missiles and Fire Control segment saw sales rise to $4.0 billion in Q4 2025, an 18% increase from $3.4 billion in Q4 2024, attributed to production ramp-up in tactical and strike missile programs [21][22] - Rotary and Mission Systems segment sales were $4.6 billion in Q4 2025, up from $4.3 billion in Q4 2024, primarily due to higher sales on Integrated warfare systems and Sikorsky helicopter programs [25][26] - Space segment sales increased to $3.2 billion in Q4 2025, compared to $2.9 billion in Q4 2024, driven by higher sales volume for strategic and missile defense programs [29][30] 2026 Financial Outlook - The company expects sales for 2026 to be between $77.5 billion and $80.0 billion, with business segment operating profit projected between $8.4 billion and $8.7 billion [12][38] - Free cash flow is anticipated to be between $6.5 billion and $6.8 billion for 2026, reflecting continued strong operational performance [12][39]

Core Insights - Lockheed Martin is significantly increasing the production of THAAD interceptors from 96 per year over the next seven years, in collaboration with the Department of War [2] - A new Munitions Acceleration Center is being established in Camden, Arkansas, to enhance workforce capabilities in advanced manufacturing and robotics [1] Investment and Production Expansion - Lockheed Martin has invested over $7 billion since President Trump's first term, with approximately $2 billion allocated for munitions production acceleration [5] - The company plans a multibillion-dollar investment over the next three years to expand production and modernize over 20 facilities across multiple states [5] - The THAAD framework agreement is the second of its kind, following a recent agreement for PAC-3 MSE interceptors [5] Job Creation and Manufacturing Growth - Lockheed Martin is creating tens of thousands of high-quality American jobs in manufacturing, engineering, and skilled trades to meet rising production demands [5] - Since 2016, deliveries of six critical munitions have increased by over 220%, with a projected additional increase of 245% to support PAC-3 and THAAD capabilities [5] - Manufacturing jobs have grown by over 60% since President Trump's first term, with an additional ~50% growth projected by 2030 [5]

Summary of Key Points from the Conference Call Industry Overview - **Industry**: Global Aerospace & Defense - **Focus**: US Defense Stocks and Budget Outlook for 2026 and Beyond Core Insights and Arguments 1. **Performance of Defense Stocks**: US defense stocks outperformed in early 2026 amid rising geopolitical tensions and President Trump's proposed $1.5 trillion defense budget for 2027, although uncertainty remains high [1][7] 2. **Budget Dynamics**: The 2026 DoD Appropriations Bill has been drafted, increasing investment funding by 27% compared to 2025, marking the largest increase in over 20 years. However, there are concerns regarding the clarity of future budgets beyond 2026 [4][24] 3. **Geopolitical Tensions**: Recent geopolitical events have calmed but remain a significant factor influencing defense budgets. Ongoing threats from countries like Iran, China, and Russia continue to exert upward pressure on defense spending [4][17][18] 4. **Executive Orders Impact**: President Trump's Executive Order restricts defense companies from share repurchases and limits executive compensation, which could pose short-term risks to stock prices [20][21] 5. **Future Budget Projections**: The proposed $1.5 trillion budget for 2027 is viewed as unlikely, with expectations for a budget increase but significant challenges in gaining Congressional support [22][23] Company-Specific Insights L3Harris - **Rating**: Outperform, Target Price: $398 - **Strengths**: High growth areas in space and rocket propulsion, strong margins in Communication Systems, and rising backlogs [8][34] - **Recent Developments**: Plans to spin off the Missile Solutions business through an IPO, supported by a $1 billion investment from the US government [35][36] Northrop Grumman (NOC) - **Rating**: Market-Perform, Target Price: $727 - **Strengths**: Strong positioning in nuclear deterrence and next-gen space programs, with growth expected from B-21 and other key programs [39] - **Challenges**: Issues with big programs and delays affecting growth potential [39] Lockheed Martin (LMT) - **Rating**: Market-Perform, Target Price: $586 - **Strengths**: High growth in Missiles & Fire Control, demand for tactical missiles [41] - **Concerns**: Execution issues and slower growth outlook due to challenges in the F-35 program [41][42] General Dynamics (GD) - **Rating**: Market-Perform, Target Price: $398 - **Strengths**: Rising demand for Navy shipbuilding and strong performance in Gulfstream business jets [46][47] - **Challenges**: Supply chain issues affecting throughput and margins [47] Raytheon (RTX) - **Rating**: Market-Perform, Target Price: $189 - **Strengths**: Growing backlog and international sales [54] - **Concerns**: Identified by President Trump as underperforming in meeting DoD demand [55] HII - **Rating**: Market-Perform, Target Price: $412 - **Strengths**: Improving shipbuilding outlook and strong backlog [49][51] - **Challenges**: Historical throughput disappointments and supply chain issues [50] Additional Important Points - **Investment Implications**: The overall dynamics are positive for defense stocks, but near-term risks related to executive orders and cash deployment policies could impact stock performance [7][33] - **Congressional Concerns**: There are significant questions regarding the Golden Dome funding and the new DoD acquisition strategy, with Congress demanding clarity on spending and performance metrics [26][27][28] This summary encapsulates the key points discussed in the conference call, highlighting the current state of the aerospace and defense industry, specific company insights, and broader implications for investors.

Core Insights - Lockheed Martin (LMT) is expected to report fourth-quarter 2025 results on January 29, 2026, with revenue estimates at $19.83 billion, reflecting a 6.5% increase year-over-year, while earnings per share (EPS) are projected at $6.24, indicating an 18.6% decline from the previous year [1][5]. Revenue Estimates - The Zacks Consensus Estimate for current quarter revenue is $19.83 billion, with a year-over-year growth estimate of 6.48% [2]. - The revenue for the next quarter is estimated at $18.71 billion, with a growth estimate of 4.17% [2]. - For the current year, total revenue is projected at $74.55 billion, with a growth estimate of 4.94%, and for the next year, it is expected to reach $77.80 billion, with a growth estimate of 4.36% [2]. Earnings Estimates - The Zacks Consensus Estimate for EPS in the current quarter is $6.24, reflecting a year-over-year decline of 18.64% [3]. - The next quarter's EPS estimate is $7.13, with a slight decline of 2.06% expected [3]. - For the current year, EPS is projected at $21.90, indicating a significant decline of 23.08%, while the next year’s EPS is expected to rise to $29.55, reflecting a growth of 34.93% [3]. Performance Metrics - LMT has consistently beaten the Zacks Consensus Estimate in the past four quarters, with an average surprise of 13.29% [4]. - The company has an Earnings ESP of -9.36% and a Zacks Rank of 3, indicating a neutral outlook for the upcoming earnings report [6]. Key Growth Drivers - Increased production of F-35 jets, missiles, helicopters, and space programs is expected to drive revenue growth [5][8]. - The Aeronautics segment is likely to benefit from higher sales volume due to increased production contracts for the F-35 jet program [8]. - The Missiles and Fire Control segment is anticipated to see improved sales performance from tactical and strike missile programs [8]. Challenges Impacting Earnings - Higher tariff-related costs and program charges are expected to pressure earnings despite increased sales volume [10]. - Losses from helicopter contracts and charges related to classified programs are also anticipated to negatively impact the bottom line [11]. Stock Performance and Valuation - LMT's stock has increased by 41.6% over the past six months, outperforming the aerospace-defense industry growth of 8.6% [12]. - The forward 12-month price-to-sales (P/S) ratio for LMT is 1.76X, which is lower than the industry average of 2.72X, suggesting a more favorable valuation compared to peers [13]. Long-term Outlook - The company is well-positioned for long-term growth due to steady demand for core defense programs and a strong order backlog [15]. - Continued contract wins across key platforms, rising international demand, and supportive U.S. defense spending are expected to enhance revenue visibility [15][18]. - However, geopolitical factors and potential supply-chain disruptions present uncertainties that could affect performance [18].

Group 1 - Lockheed Martin Corporation (NYSE:LMT) is recognized as a strong long-term investment in the defense sector, offering reasonable dividends [1][2] - The company designs and maintains various military and government-related technologies, including aircraft, missile systems, and cybersecurity tools [2] - Since the comments made on the stock, Lockheed Martin's stock has increased by over 40% [3] Group 2 - Jim Cramer expressed confidence in Lockheed Martin's leadership under CEO Jim Taiclet, indicating a belief in the company's future performance [2] - Cramer also mentioned AeroVironment as a favorable investment, highlighting its significant stock price increase since being featured on his show [1][2]

Group 1: Contract Wins and Financials - Lockheed Martin Corporation secured a $9.58 million contract modification for combat systems integration and testing, focusing on littoral combat ships and unmanned surface vessels [1][2] - The company has also obtained two defense contracts totaling $225 million for missile systems and naval weapons support, including a $202.8 million modification for PAC-3 missiles [3] - Additionally, Lockheed Martin's Rotary and Mission Systems unit received a $22.2 million cost-plus-fixed-fee contract for lifecycle logistics, engineering, and technical services for Aegis systems [4] Group 2: Operational Details - Work under the $9.58 million contract will be performed by Lockheed's Rotary and Mission Systems division across multiple locations, with completion expected by February 2027 [2] - The contracts emphasize the company's focus on advanced technology systems in the aerospace and defense sectors [4]

Lockheed Martin Corp. (NYSE:LMT) heads into its fourth-quarter earnings report on Jan. 29 with a massive $179 billion backlog shielding it from recent operational turbulence. While Wall Street remains cautious following mid-year execution stumbles, management's own full-year outlook suggests the defense giant could be poised to beat consensus estimates.The Numbers Game: Implied Guidance Vs. The StreetA significant discrepancy has emerged between analyst expectations and the company's stated financial target ...

Core Insights - Lockheed Martin's GPS III SV09 satellite enhances capabilities and resilience of the GPS constellation, crucial for military and civilian applications [1][5] Group 1: Launch and Operational Details - GPS III SV09 was launched from Cape Canaveral Space Force Station aboard a SpaceX Falcon 9 rocket at 11:53 p.m. ET and achieved signal acquisition shortly after [2] - The satellite is currently under operational control at Lockheed Martin's Denver Launch & Checkout Operations Center until it is officially accepted into the GPS operational control network [2] Group 2: Military and Security Features - GPS III SV09 provides advanced security and anti-jamming features, ensuring precise navigation and timing in contested environments, which is vital for national security and defense missions [3] - The GPS III satellites offer three-times better accuracy and eight-times improved anti-jamming capabilities, along with M-code navigation signals for global warfighters [3] Group 3: Importance of GPS Constellation - Each additional GPS III satellite enhances accuracy and provides resilient signals for essential services like aviation, precision agriculture, and telecommunications [4] - Sustaining and expanding the GPS constellation is critical as it ages, with new satellites required to maintain uninterrupted global coverage [4] Group 4: Future Developments - The launch of GPS III SV09 is a significant step towards enhancing the resilience of the GPS constellation, laying the groundwork for the upcoming GPS IIIF satellites, which will offer 60-times more anti-jam capabilities [5] - GPS III SV09 is equipped with a laser retroreflector array to improve measurements of the Earth's orientation for the GPS coordinate system [5][6]

RTX, Northrop Grumman Rise In Defense-Heavy Earnings Week | Investor's Business DailyMUST-VIEW FOR INVESTORS: [See The Best Online Brokers For 2026]---RTX advanced after topping quarterly estimates early Tuesday. Northrop Grumman climbed in a buy zone after beating views, but its earnings guidance and free cash flow outlook fell short. Among other defense contractors, General Dynamics (GD) releases results on Wednesday, followed by Lockheed Martin (LMT) reports Thursday. Meanwhile, defense stocks have been ...