LMT — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-07-23

• Certain materials and component parts that go into making our products are imported into the U.S. and are subject to tariffs, sanctions, embargoes, export and import controls, and other trade restrictions. Changes in trade policies,

• including tariffs and other restrictions, may affect the cost or availability of certain materials and components. While we continue to monitor these developments and pursue mitigation strategies where appropriate, excluding the near-term cash flow impact, we do not currently expect existing tariffs…

• Product sales increased $1.6 billion, or 11%, during the quarter ended June 28, 2026, compared to the same period in 2025. This increase was due to higher product sales of approximately $650 million at Aeronautics (higher volume on F-35 production contracts and the sales impact of the 2025 reach-for…

• Product costs increased $594 million, or 4%, during the quarter ended June 28, 2026, compared to the same period in 2025. Higher product costs of approximately $515 million at MFC, $165 million at RMS and $155 million at Space, partially offset by lower product costs of $240 million at Aeronautics. …

• Product sales during the six months ended June 28, 2026 increased $1.5 billion, or 5%, compared to the same period in 2025. This increase was due to higher product sales of approximately $940 million at MFC (production ramp-up on PAC-3 and THAAD programs); $405 million at Aeronautics (primarily high…

Text removed vs the prior filing · source: 10-Q · 2026-04-23

• Certain materials and component parts that go into making our products are imported into the U.S. and are subject to tariffs, sanctions, embargoes, export and import controls, and other trade restrictions. Changes in trade policies, including tariffs and other restrictions, may affect the cost or av…

• Product sales during the quarter ended March 29, 2026 decreased $105 million, or 1%, compared to the same period in 2025. Lower product sales of approximately $325 million at RMS and $240 million at Aeronautics were offset by higher product sales of $305 million at MFC and $155 million at Space. Low…

• Product costs during the quarter ended March 29, 2026 increased $114 million, or 1%, compared to the same period in 2025. Higher product costs of approximately of $255 million at MFC and $245 million at Space were offset by lower product costs of $245 million at RMS and $140 million at Aeronautics. …

• Service sales during the quarter ended March 29, 2026 increased $163 million, or 5%, compared to the same period in 2025. The increase was primarily attributable to due to higher service sales of approximately $135 million at Aeronautics as a result of higher volume on the F-35 sustainment contracts…

• Service costs during the quarter ended March 29, 2026 increased $144 million, or 5%, compared to the same period in 2025. The increase was primarily attributable to higher service costs of approximately $140 million at Aeronautics, which is consistent with the higher service sales as described above…

Text added vs the prior filing · source: 10-Q · 2026-07-23

• •planned production rates and orders for significant programs, compliance with stringent performance and reliability standards, and materials availability, including government furnished equipment and rare earth minerals;

• •performance and/or financial viability of key suppliers, teammates, joint ventures (including United Launch Alliance, for which we have provided and expect to provide additional financial guarantees), joint venture partners, subcontractors and customers;

• •the satisfaction of conditions to (including regulatory approvals) and consummation of our announced acquisition of Ultra Maritime, if at all, the timing and terms of any financing for such acquisition and the impact thereof on our indebtedness and capital allocation, our ability to successfully in…

• •our efforts to fund and increase production capabilities and the efficiency of operations and improve the affordability of our products and services, including through digital transformation and cost reduction initiatives;

Text removed vs the prior filing · source: 10-Q · 2026-04-23

• During the first quarter of 2026, we completed the first of a multi-year phased implementation of our new enterprise resource planning (ERP) system for one of our business segments, which is designed to streamline our processes and enhance the flow of information. We updated our internal controls to…

• •planned production rates and orders for significant programs, compliance with stringent performance and reliability standards, and materials availability, including government furnished equipment and rare earth minerals;

• •performance and/or financial viability of key suppliers, teammates, joint ventures (including United Launch Alliance), joint venture partners, subcontractors and customers;

• •our efforts to fund and increase production capabilities and the efficiency of its operations and improve the affordability of its products and services, including through digital transformation and cost reduction initiatives;

Text removed vs the prior filing · source: 10-Q · 2026-04-23

• If we fail to successfully complete or manage acquisitions, divestitures, equity investments and other transactions or if acquired entities or equity investments fail to perform as expected, our financial results, business and future prospects could be harmed.

• We hold investments in joint ventures, including United Launch Alliance (ULA), that are accounted for under the equity method. Our investment in ULA was $544 million and $551 million at March 29, 2026 and December 31, 2025, respectively. To the extent that performance challenges associated with the …