Lockheed Martin Corporation Q2 2026 Earnings Call Summary - MobyStrategic Performance DriversOur analysts just identified a stock with the potential to be the next Nvidia. Achieved record $230 billion backlog driven by a $35 billion multiyear THAAD contract and significant radar and space awards. Backlog growth of $64 billion year-over-year reflects a book-to-bill ratio of 3.2:1, signaling a transition from demand capture to a multi-year production scaling phase. Outlook and Guidance AssumptionsRaised 2026 sales guidance to $79.75 billion–$81.75 billion, assuming high single-digit to low double-digit growth in the second half of the year. Management expects 2026 free cash flow of $7 billion–$7.2 billion, supported by improved working capital dynamics and favorable tax guidance.