On July 23, Lockheed Martin rose 6.57% in regular trading, trading at $549.0/share, with turnover of $103 million. The stock surged following the release of a strong Q2 earnings report that substantially exceeded market expectations.

The company reported Q2 EPS of $7.94, beating the analyst consensus estimate of $7.09-$7.19 by approximately 12%, representing an 8.9% year-over-year increase. Revenue came in at $20.063 billion versus the expected $19.34 billion, up from $18.155 billion in the year-ago period. The company simultaneously raised its full-year guidance, projecting annual sales of $79.75-$81.7 billion and full-year EPS of $29.95-$30.65, both above prior market estimates. Backlog reached a record $230 billion with production increases across all business segments. Additionally, the company announced it will be exempt from the Corporate Alternative Minimum Tax this year under recent legislation, reducing federal income tax expenses and further improving profit outlook. Lockheed Martin maintained its quarterly dividend at $3.45 per share. Peer RTX Corp rose 6.46% on the same day, reflecting broad strength across the defense sector.

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