Lockheed Martin Q3 net sales $20.7B, beats $20.47B estimate

The beat matters less than the guidance: a full-year EPS range whose midpoint sits barely above consensus signals that management is not extrapolating the strong quarter into the rest of the year, a cautious posture worth noting for a defense prime with a long backlog. The modest top-line outperformance and the raised outlook imply execution is holding, but the thin margin over market expectations suggests little room for upside surprise. Whether the guided range proves conservative or simply realistic is the open question.