Bethesda, Maryland-based Lockheed Martin Corporation (LMT) specializes in manufacturing and designing fighter aircraft and missiles. It’s popularly known for its fighter aircraft like F-16 Falcon, F-22 Raptor, and F-35 Lightning. With a market cap of $107.4 billion, Lockheed Martin operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.

The defense giant is expected to announce its second-quarter results on Tuesday, Jul. 22. Ahead of the event, analysts expect LMT to report a profit of $6.57 per share, down 7.6% from $7.11 per share reported in the year-ago quarter. On a positive note, the stock has outperformed Street’s bottom-line estimates in each of the past four quarters.

For the full fiscal 2025, LMT’s earnings are expected to come in at $27.27 per share, down 4.2% from $28.47 reported in fiscal 2024. However, in fiscal 2026, its earnings are expected to rebound 9.1% year-over-year to $29.75 per share.

Lockheed Martin’s stock prices have dropped 4.7% on a YTD basis, notably underperforming the S&P 500 Index’s ($SPX) 5.5% gains and the Industrial Select Sector SPDR Fund’s (XLI) 12% surge during the same time frame.

Lockheed Martin’s stock prices observed a marginal uptick after the release of its Q1 results on Apr. 22 and maintained a positive momentum for the next three trading sessions. Continuing the momentum of 2024, the company’s revenues for the quarter grew 4.5% year-over-year to $18 billion, exceeding Street’s expectations by 1.1%. Its net earnings for the quarter surged 10.8% year-over-year to $1.7 billion, and its EPS of $7.28 surpassed the consensus estimates by 14.8%. Furthermore, the company returned $1.5 billion to shareholders in the form of dividends and share repurchases.

The LMT stock holds a consensus “Moderate Buy” rating overall. Of the 23 analysts covering the stock, opinions include 11 “Strong Buys,” 11 “Holds,” and one “Strong Sell.” Its mean price target of $525.50 suggests a 13.5% upside potential from current price levels.