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Lockheed Martin Corp. has reached a framework agreement with the Pentagon to quadruple THAAD missile interceptor production from 96 to 400 units annually. The company plans a multibillion-dollar investment over three years to expand production and modernize over 20 facilities.

In its fourth quarter, Lockheed reported a 9.1% sales increase to $20.32 billion but an adjusted profit of $5.80 per share, falling short of the $5.86 expected by analysts. For 2026, the company forecasts net sales between $77.5 billion and $80 billion, aligning with consensus estimates.

The defense budget for fiscal 2027 is projected by President Trump to reach $1.5 trillion, leading investors to monitor Lockheed's spending plans closely. The company is also boosting production of its PAC-3 missiles, indicating growth potential in missile systems.