Key Points - Earnings per share fell sharply to $1.46, missing analyst estimates and reflecting significant program charges.- Revenue stayed flat at $18.2 billion but came in below expectations, while operating profit dropped by 65 % compared to the prior year.

Lockheed Martin said profits in the second quarter plunged almost 80 per cent after the US defence group incurred pre-tax losses of $1.6bn on several of its programmes.

With a $166 billion backlog, stable cash flows, and a 22-year dividend growth streak, Lockheed Martin is a resilient, long-term buy despite sector risks.