LMT Earnings History: 93.8% Beat Rate and What the Data Says for April 2026

Lockheed Martin reports next on April 23, 2026. Defense contractors run on multi-year government contracts, which gives management a clear view of revenue long before the quarter closes. That predictability shows up directly in the earnings track record.

The Beat Rate

LMT has beaten Wall Street estimates in 15 of its last 16 quarters. That is a 93.8% beat rate. The broader S&P 500 average sits around 70%. LMT is operating in a different tier.

One miss in four years of quarterly reports. That kind of consistency comes from locked-in government contracts and disciplined cost management. The business model makes it hard to miss.

What Happens After a Beat

The stock moves up the next day after a beat just 46.7% of the time. The average next-day move is 0.19%. That is close to nothing. The market prices in the beat before the report hits.

When the number confirms, there is little surprise left to move the stock. Consistent beats stop being catalysts when they become expectations.

The Pattern

The beat rate is elite, but the post-earnings price action is muted. LMT delivers nearly every quarter, and the market has learned to expect it. That expectation gets priced in before the open.

After the one miss in 16 quarters, the stock did not decline the next day. A 0.0% down rate after a miss is a thin sample, but it fits the pattern of a stock the market treats as structurally stable.

The 0.19% average post-beat move confirms this is not an earnings momentum trade. LMT grinds. It does not gap.

What This Means for Traders

One: do not assume a beat equals an up day. A 46.7% up rate after a beat is effectively a coin flip. There is no directional edge on the long side going into earnings.

Two: implied volatility is likely overpriced relative to the actual move. A 0.19% average post-beat move is tiny. Options premium sellers have a structural advantage here.

Three: LMT earnings work better as a confirmation signal than a trading catalyst. The ChartOdds data shows a stock that consistently delivers the number but rarely delivers a price surprise.