Is Lockheed Martin Stock Still a Buy After Its Earnings Miss?
Lockheed Martin stock is lower Tuesday after the aerospace giant missed estimates for its fourth quarter and issued a mixed outlook. Here's what to know.


Lockheed Martin (LMT) stock moved lower out of the gate Tuesday after the defense and aerospace manufacturer came up short of top- and bottom-line expectations for its fourth quarter and issued a mixed outlook for the full fiscal year.
In the three months ending December 31, Lockheed Martin's revenue decreased 1.3% year over year to $18.6 billion. Its earnings per share (EPS) declined 70.7% from the year-ago period to $2.22, including a $5.45 per share after-tax impact due to classified-programs losses.
Still, Lockheed Martin CEO Jim Taiclet said "2024 was another successful and productive year for" the company. Its "5% sales growth and record year-end backlog of $176 billion demonstrate the enduring global demand for our advanced defense technology and systems," he noted, adding that LMT's "strong and consistent performance also enabled us to again return greater than 100% of free cash flow to our shareholders in 2024."

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The results came up short of analysts' expectations. Wall Street was anticipating revenue of $18.8 billion and earnings of $6.61 per share, according to Yahoo Finance.
For 2025, Lockheed Martin said it expects to achieve revenue in the range of $73.75 billion to $74.75 billion and earnings per share of $27 to $27.30. The midpoints of these ranges, revenue of $74.25 billion and earnings of $27.15 per share, are mixed compared with the $74.1 billion in revenue and $27.94 per share in earnings Wall Street is calling for.
Is Lockheed Martin stock a buy, sell or hold?
Lockheed Martin has lagged the broad market over the past 12 months, up 20% on a total return basis (price change plus dividends) vs the S&P 500's 25% gain. But Wall Street remains bullish on the industrial stock.
According to S&P Global Market Intelligence, the average analyst target price for LMT stock is $555.30, representing implied upside of nearly 20% to current levels. Additionally, the consensus recommendation is Buy.
Financial services firm Truist Securities is one of the more bullish outfits on the large-cap stock with a Buy rating and $579 price target.
Truist Securities analyst Michael Ciarmoli says LMT's share-price weakness creates a "compelling entry point," and that fears related to potential cost cuts recommended by the Department of Government Efficiency (DOGE) are "overblown" and that "defense spending will continue to rise in coming periods."
He adds that he assumes "LMT management can execute on its 2025 guidance and achieve its multi-year growth framework."
Related Content
- Earnings Calendar and Analysis for This Week
- Analysts' Top S&P 500 Stocks to Buy Now
- Best Stocks To Buy Now
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.
-
USPS Is Raising Prices for Holiday Shipping: Dates and Increases You Need to Know
What the USPS's $16 price hike means for your wallet and your small business.
-
July CPI Report Ignites a Risk-On Rally: Stock Market Today
Market participants price out worst-case scenarios for tariffs and inflation and will now turn their attention to employment and growth.
-
July CPI Report Ignites a Risk-On Rally: Stock Market Today
Market participants price out worst-case scenarios for tariffs and inflation and will now turn their attention to employment and growth.
-
July CPI Report Boosts Rate-Cut Odds: What the Experts Say
The July CPI report shows that tariffs are having a slight impact on inflation, though not enough to keep the Fed from cutting interest rates.
-
DST Exit Strategies: An Expert Guide to What Happens When the Trust Sells
Understanding the endgame: How Delaware statutory trust dispositions work, what investors can expect and why the exit is probably more important than the entrance.
-
Think Selling Your Home 'As Is' Means You'll Have No Worries? Think Again
There are significant risks and legal obligations involved in selling a home 'as is' and by yourself, without a real estate agent.
-
Stocks Slip Ahead of July CPI Report: Stock Market Today
The latest inflation updates roll in this week and Wall Street is watching to see how much of an impact tariffs are having on cost pressures.
-
What the OBBB Means for Social Security Taxes and Your Retirement: A Wealth Adviser's Guide
For Americans in lower- and middle-income tax brackets, the enhanced deduction for older people reduces taxable income, shielding most of their Social Security benefits from being taxed.
-
Financial Planner vs Investment Manager: Who's the Better Value for You?
When markets are shaky, who do you trust with your money? A recent study provides useful insights into the value that different financial professionals offer.
-
I'm a Financial Adviser: This Is How You Could Be Leaving Six Figures in Social Security on the Table
Claiming Social Security is about more than filing paperwork and expecting a check. When you do it and how you do it have huge financial implications that last the rest of your life.