Subtext

Lockheed Martin Corporation LMT

SectorIndustrials
Transcripts65
Date range2009-04-21 – 2025-04-22
Calls charted65

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-15-8+0+8+152009 Q12011 Q22013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42009 Q1 · Overall: +5.12009 Q2 · Overall: -1.72009 Q3 · Overall: +5.22009 Q4 · Overall: +4.62010 Q1 · Overall: +13.22010 Q2 · Overall: +4.62010 Q3 · Overall: +3.02010 Q4 · Overall: +6.12011 Q1 · Overall: -0.72011 Q2 · Overall: +0.22011 Q3 · Overall: +2.72011 Q4 · Overall: +4.92012 Q1 · Overall: +6.22012 Q2 · Overall: +2.62012 Q3 · Overall: +6.22012 Q4 · Overall: +9.12013 Q1 · Overall: +4.92013 Q2 · Overall: +5.02013 Q3 · Overall: +7.62013 Q4 · Overall: +6.62014 Q1 · Overall: +8.22014 Q2 · Overall: +8.42014 Q3 · Overall: +7.72014 Q4 · Overall: +6.02015 Q1 · Overall: +8.02015 Q2 · Overall: +6.12015 Q3 · Overall: +7.92015 Q4 · Overall: +8.32016 Q1 · Overall: +4.02016 Q2 · Overall: +6.32016 Q3 · Overall: +7.22016 Q4 · Overall: +8.22017 Q1 · Overall: +9.02017 Q2 · Overall: +3.62017 Q3 · Overall: +7.02017 Q4 · Overall: +8.22018 Q1 · Overall: +8.82018 Q2 · Overall: +8.82018 Q3 · Overall: +7.12018 Q4 · Overall: +5.62019 Q1 · Overall: +11.52019 Q2 · Overall: +13.12019 Q3 · Overall: +8.42019 Q4 · Overall: +9.52020 Q1 · Overall: +6.52020 Q2 · Overall: +8.72020 Q3 · Overall: +9.52020 Q4 · Overall: +11.22021 Q1 · Overall: +10.92021 Q2 · Overall: +9.72021 Q3 · Overall: +6.72021 Q4 · Overall: +5.92022 Q1 · Overall: +7.42022 Q2 · Overall: +3.02022 Q3 · Overall: +7.02022 Q4 · Overall: +7.82023 Q1 · Overall: +7.52023 Q2 · Overall: +7.12023 Q3 · Overall: +3.52023 Q4 · Overall: +5.42024 Q1 · Overall: +5.72024 Q2 · Overall: +11.22024 Q3 · Overall: +6.32024 Q4 · Overall: +9.32025 Q1 · Overall: +7.9
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-33-17+0+17+332009 Q12011 Q22013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42009 Q3 · CEO: +6.22009 Q4 · CEO: +7.82010 Q1 · CEO: +19.42010 Q2 · CEO: +9.12010 Q3 · CEO: +6.62010 Q4 · CEO: +12.52011 Q1 · CEO: +1.72011 Q2 · CEO: +3.22011 Q3 · CEO: +7.12011 Q4 · CEO: +5.62012 Q1 · CEO: +13.52012 Q2 · CEO: +0.02012 Q3 · CEO: +5.42012 Q4 · CEO: +19.82013 Q1 · CEO: +8.52013 Q2 · CEO: +12.12013 Q3 · CEO: +14.92013 Q4 · CEO: +19.52014 Q1 · CEO: +25.42014 Q2 · CEO: +19.92014 Q3 · CEO: +21.72014 Q4 · CEO: +15.12015 Q1 · CEO: +14.32015 Q2 · CEO: +17.42015 Q4 · CEO: +29.02016 Q1 · CEO: +15.32016 Q3 · CEO: +17.02016 Q4 · CEO: +13.92017 Q1 · CEO: +16.72017 Q2 · CEO: +9.32017 Q3 · CEO: +15.32017 Q4 · CEO: +16.92018 Q1 · CEO: +14.02018 Q2 · CEO: +15.42018 Q3 · CEO: +13.32018 Q4 · CEO: +8.12019 Q1 · CEO: +14.12019 Q2 · CEO: +14.02019 Q3 · CEO: +11.02019 Q4 · CEO: +15.62020 Q1 · CEO: +11.42020 Q2 · CEO: +10.82020 Q3 · CEO: +10.92021 Q1 · CEO: +12.42021 Q2 · CEO: +10.22021 Q3 · CEO: +9.22021 Q4 · CEO: +8.82022 Q1 · CEO: +8.82022 Q2 · CEO: +1.12022 Q3 · CEO: +7.72022 Q4 · CEO: +6.32023 Q1 · CEO: +9.92023 Q2 · CEO: +8.42023 Q3 · CEO: +4.52023 Q4 · CEO: +10.72024 Q1 · CEO: +9.22024 Q2 · CEO: +11.72024 Q3 · CEO: +5.62024 Q4 · CEO: +8.62025 Q1 · CEO: +6.32009 Q1 · CFO: +5.32009 Q2 · CFO: +0.32009 Q3 · CFO: +10.12009 Q4 · CFO: +4.62010 Q1 · CFO: +4.92010 Q2 · CFO: +3.52010 Q3 · CFO: -0.32010 Q4 · CFO: +5.72011 Q1 · CFO: +0.02011 Q2 · CFO: +1.12011 Q3 · CFO: +2.02011 Q4 · CFO: +6.82012 Q1 · CFO: +5.62012 Q2 · CFO: +4.12012 Q3 · CFO: +4.92012 Q4 · CFO: +3.52013 Q1 · CFO: +7.42013 Q2 · CFO: +5.72013 Q3 · CFO: +6.22013 Q4 · CFO: +1.32014 Q1 · CFO: +4.92014 Q2 · CFO: +4.82014 Q3 · CFO: +5.92014 Q4 · CFO: +1.22015 Q1 · CFO: +5.92015 Q2 · CFO: +4.22015 Q4 · CFO: +3.32016 Q1 · CFO: +3.12016 Q3 · CFO: +6.82016 Q4 · CFO: +5.62017 Q1 · CFO: +5.72017 Q2 · CFO: +0.22017 Q3 · CFO: +5.72017 Q4 · CFO: +6.12018 Q1 · CFO: +5.12018 Q2 · CFO: +7.52018 Q3 · CFO: +8.52018 Q4 · CFO: +6.42019 Q1 · CFO: +10.92019 Q2 · CFO: +14.52019 Q3 · CFO: +7.42019 Q4 · CFO: +7.82020 Q1 · CFO: +2.32020 Q2 · CFO: +11.02020 Q3 · CFO: +10.22021 Q1 · CFO: +13.42021 Q2 · CFO: +10.12021 Q3 · CFO: +9.12021 Q4 · CFO: +6.82022 Q1 · CFO: +8.42022 Q2 · CFO: +6.02022 Q3 · CFO: +7.62022 Q4 · CFO: +7.02023 Q1 · CFO: +10.12023 Q2 · CFO: +6.62023 Q3 · CFO: +7.12023 Q4 · CFO: +6.52024 Q1 · CFO: +5.72024 Q3 · CFO: +9.32024 Q4 · CFO: +15.22025 Q1 · CFO: +21.4
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-28-14+0+14+282009 Q12011 Q22013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42009 Q1 · Prepared remarks: +13.32009 Q2 · Prepared remarks: +10.32009 Q3 · Prepared remarks: +16.92009 Q4 · Prepared remarks: +11.42010 Q1 · Prepared remarks: +17.62010 Q2 · Prepared remarks: +10.72010 Q3 · Prepared remarks: +8.12010 Q4 · Prepared remarks: +12.62011 Q1 · Prepared remarks: +12.12011 Q2 · Prepared remarks: +0.52011 Q3 · Prepared remarks: +9.12011 Q4 · Prepared remarks: +5.32012 Q1 · Prepared remarks: +19.72012 Q2 · Prepared remarks: +10.22012 Q3 · Prepared remarks: +13.52012 Q4 · Prepared remarks: +21.52013 Q1 · Prepared remarks: +12.72013 Q2 · Prepared remarks: +12.72013 Q3 · Prepared remarks: +17.92013 Q4 · Prepared remarks: +10.02014 Q1 · Prepared remarks: +23.42014 Q2 · Prepared remarks: +17.12014 Q3 · Prepared remarks: +15.82014 Q4 · Prepared remarks: +13.62015 Q1 · Prepared remarks: +15.92015 Q2 · Prepared remarks: +20.62015 Q3 · Prepared remarks: +13.02015 Q4 · Prepared remarks: +20.02016 Q1 · Prepared remarks: +24.42016 Q2 · Prepared remarks: +18.82016 Q3 · Prepared remarks: +15.12016 Q4 · Prepared remarks: +13.42017 Q1 · Prepared remarks: +9.82017 Q2 · Prepared remarks: +10.92017 Q3 · Prepared remarks: +10.52017 Q4 · Prepared remarks: +17.22018 Q1 · Prepared remarks: +17.12018 Q2 · Prepared remarks: +15.32018 Q3 · Prepared remarks: +14.42018 Q4 · Prepared remarks: +7.92019 Q1 · Prepared remarks: +17.62019 Q2 · Prepared remarks: +14.62019 Q3 · Prepared remarks: +13.62019 Q4 · Prepared remarks: +13.62020 Q1 · Prepared remarks: +6.02020 Q2 · Prepared remarks: +13.42020 Q3 · Prepared remarks: +9.82020 Q4 · Prepared remarks: +12.12021 Q1 · Prepared remarks: +17.82021 Q2 · Prepared remarks: +12.72021 Q3 · Prepared remarks: +6.92021 Q4 · Prepared remarks: +10.82022 Q1 · Prepared remarks: +7.32022 Q2 · Prepared remarks: +1.42022 Q3 · Prepared remarks: +11.22022 Q4 · Prepared remarks: +6.62023 Q1 · Prepared remarks: +7.42023 Q2 · Prepared remarks: +17.32023 Q3 · Prepared remarks: +6.92023 Q4 · Prepared remarks: +10.62024 Q1 · Prepared remarks: +10.12024 Q2 · Prepared remarks: +14.62024 Q3 · Prepared remarks: +9.22024 Q4 · Prepared remarks: +13.92025 Q1 · Prepared remarks: +17.42009 Q1 · Q&A responses: +3.02009 Q2 · Q&A responses: -4.82009 Q3 · Q&A responses: +3.12009 Q4 · Q&A responses: +4.32010 Q1 · Q&A responses: +13.42010 Q2 · Q&A responses: +3.62010 Q3 · Q&A responses: +2.02010 Q4 · Q&A responses: +7.52011 Q1 · Q&A responses: -3.02011 Q2 · Q&A responses: +3.42011 Q3 · Q&A responses: +1.82011 Q4 · Q&A responses: +5.42012 Q1 · Q&A responses: +3.12012 Q2 · Q&A responses: +1.62012 Q3 · Q&A responses: +5.22012 Q4 · Q&A responses: +3.02013 Q1 · Q&A responses: +4.12013 Q2 · Q&A responses: +4.82013 Q3 · Q&A responses: +4.12013 Q4 · Q&A responses: +8.12014 Q1 · Q&A responses: +3.62014 Q2 · Q&A responses: +6.42014 Q3 · Q&A responses: +8.32014 Q4 · Q&A responses: +3.92015 Q1 · Q&A responses: +5.72015 Q2 · Q&A responses: +4.62015 Q3 · Q&A responses: +7.32015 Q4 · Q&A responses: +3.52016 Q1 · Q&A responses: +1.32016 Q2 · Q&A responses: +1.22016 Q3 · Q&A responses: +4.72016 Q4 · Q&A responses: +7.52017 Q1 · Q&A responses: +10.22017 Q2 · Q&A responses: +1.32017 Q3 · Q&A responses: +5.12017 Q4 · Q&A responses: +3.42018 Q1 · Q&A responses: +5.12018 Q2 · Q&A responses: +7.12018 Q3 · Q&A responses: +6.02018 Q4 · Q&A responses: +5.82019 Q1 · Q&A responses: +9.32019 Q2 · Q&A responses: +12.82019 Q3 · Q&A responses: +5.92019 Q4 · Q&A responses: +6.52020 Q1 · Q&A responses: +6.82020 Q2 · Q&A responses: +7.22020 Q3 · Q&A responses: +10.22020 Q4 · Q&A responses: +16.02021 Q1 · Q&A responses: +7.72021 Q2 · Q&A responses: +8.42021 Q3 · Q&A responses: +9.22021 Q4 · Q&A responses: +4.62022 Q1 · Q&A responses: +7.92022 Q2 · Q&A responses: +5.22022 Q3 · Q&A responses: +6.02022 Q4 · Q&A responses: +10.12023 Q1 · Q&A responses: +11.62023 Q2 · Q&A responses: +1.22023 Q3 · Q&A responses: +4.82023 Q4 · Q&A responses: +7.22024 Q1 · Q&A responses: +5.52024 Q2 · Q&A responses: +10.52024 Q3 · Q&A responses: +5.72024 Q4 · Q&A responses: +8.22025 Q1 · Q&A responses: +4.5
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$9.42$19.42$29.432009 Q12011 Q22013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42014 Q1: $10.802014 Q2: $11.252014 Q3: $11.832014 Q4: $11.512015 Q1: $11.472015 Q2: $11.852015 Q3: $12.292015 Q4: $12.212016 Q1: $12.262016 Q2: $12.802016 Q3: $12.432016 Q4: $12.772017 Q1: $12.992017 Q2: $13.312017 Q3: $13.792017 Q4: $13.362018 Q1: $16.162018 Q2: $17.252018 Q3: $18.692018 Q4: $19.642019 Q1: $20.702019 Q2: $22.722019 Q3: $24.322019 Q4: $24.262020 Q1: $24.832020 Q2: $25.302020 Q3: $26.042020 Q4: $26.102021 Q1: $26.772021 Q2: $27.302021 Q3: $27.042021 Q4: $26.282022 Q1: $26.972022 Q2: $27.612022 Q3: $26.392022 Q4: $27.042023 Q1: $27.072023 Q2: $27.622023 Q3: $27.862023 Q4: $26.742024 Q1: $26.412024 Q2: $27.142024 Q3: $28.042024 Q4: $28.05

Forward P/E

11.8818.2724.672009 Q12011 Q22013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42014 Q1: 14.902014 Q2: 14.562014 Q3: 15.112014 Q4: 16.092015 Q1: 17.672015 Q2: 16.122015 Q3: 16.902015 Q4: 17.812016 Q1: 17.802016 Q2: 18.702016 Q3: 19.102016 Q4: 19.762017 Q1: 20.732017 Q2: 21.052017 Q3: 21.762017 Q4: 23.792018 Q1: 20.532018 Q2: 18.222018 Q3: 18.152018 Q4: 13.952019 Q1: 14.662019 Q2: 15.662019 Q3: 16.322019 Q4: 15.692020 Q1: 13.432020 Q2: 15.112020 Q3: 15.192020 Q4: 13.592021 Q1: 13.112021 Q2: 14.052021 Q3: 12.762021 Q4: 13.112022 Q1: 15.622022 Q2: 15.002022 Q3: 15.792022 Q4: 17.942023 Q1: 17.482023 Q2: 16.382023 Q3: 15.112023 Q4: 16.882024 Q1: 16.452024 Q2: 16.952024 Q3: 20.172024 Q4: 17.22

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2017 Q2 tone ↓ -5.3 fwd EPS ↑ +0.32 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q3 tone ↓ -4.8 fwd EPS ↑ +1.60 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q1 tone ↓ -3.0 fwd EPS ↑ +0.57 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q2 tone ↓ -4.4 fwd EPS ↑ +0.65 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q3 tone ↑ +4.0 fwd EPS ↓ -1.23 Tone rose while the forward EPS estimate was cut.
  • 2024 Q3 tone ↓ -4.9 fwd EPS ↑ +0.90 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-22+7.9——View →
2024 Q42025-01-28+9.3$28.0517.2View →
2024 Q32024-10-22+6.3$28.0420.2View →
2024 Q22024-07-23+11.2$27.1416.9View →
2024 Q12024-04-23+5.7$26.4116.4View →
2023 Q42024-01-23+5.4$26.7416.9View →
2023 Q32023-10-17+3.5$27.8615.1View →
2023 Q22023-07-18+7.1$27.6216.4View →