Lockheed Martin Raises Fiscal Year Outlook as Backlog Hits Record

Lockheed Martin has raised its full-year earnings per share outlook to $30.35 to $30.75, up from $29.95 to $30.65, and increased its sales guidance to $80 billion to $82 billion, compared to the previous range of $79.75 billion to $81.75 billion. The company reported higher profit and revenue in the third quarter, surpassing analyst expectations, and its backlog grew by 27% to a record high of $291.98 billion. CEO Jim Taiclet credited this performance to leveraging existing platforms through innovation and new digital technologies.