Seeking Alpha发布GE、RTX、诺斯罗普·格鲁曼、洛克希德·马丁Q3财报前瞻，财报下周才公布

Major U.S. aerospace and defense companies, including GE Aerospace ( GE ), RTX ( RTX ), Northrop Grumman ( NOC ), and Lockheed Martin ( LMT ), are scheduled to report third-quarter earnings next week, with investors watching revenue growth, profitability, and updated full-year outlooks. Defense Contractor Earnings Preview: Q3 Estimates Company Report date EPS estimate (YoY) Revenue estimate (YoY) EPS beats (last 2 years) Revenue beats (last 2 years) GE Aerospace ( GE ) Oct. 20, premarket $2.01 (+21.1%) $12.88B (+14.0%) 100% 75% RTX ( RTX ) Oct. 20, premarket $1.78 (+4.7%) $24.11B (+7.3%) 100% 100% Northrop Grumman ( NOC ) Oct. 20, premarket $7.18 $11.12B (+6.9%) 75% 75% Lockheed Martin ( LMT ) Oct. 22, premarket $7.53 $20.46B (+10.0%) 100% 50% Click to enlarge Among the four companies, GE Aerospace is expected to post the strongest year-over-year revenue growth at 14%, followed by Lockheed Martin at 10%, RTX at 7.3%, and Northrop Grumman at 6.9%. Analyst estimate revisions over the past three months Company EPS revisions - Up EPS revisions - Down Revenue revisions - Up Revenue revisions - Down GE Aerospace ( GE ) 15 1 11 1 RTX ( RTX ) 17 1 17 1 Northrop Grumman ( NOC ) 16 1 18 1 Lockheed Martin ( LMT ) 4 10 18 0 Click to enlarge Estimate revisions have been largely positive across the group, although Lockheed Martin stands out with more downward than upward EPS revisions despite consistently positive revenue revisions. Lockheed Martin ( LMT ): Supply constraints remain a near-term hurdle Bay Area Ideas maintains a Buy rating on Lockheed Martin despite an 11% pullback since July, citing robust long-term demand and an attractive valuation. Sales growth is expected to accelerate in 2026 compared with 2025, although third-quarter results could be mixed as capacity constraints continue to limit growth. The company has taken steps to strengthen its supply chain through new contracts aimed at easing bottlenecks and supporting higher production. RTX ( RTX ): Strong backlog supports growth outlook Blake Winiecki maintains a Buy rating on RTX, pointing to robust defense demand, commercial aerospace aftermarket growth, and improving operational performance. RTX’s $289B backlog, including $119B in defense, provides long-term revenue visibility, while recent contracts and rising aftermarket sales support growth. Ahead of Q3 results, investors will be watching defense backlog conversion, missile production, aftermarket demand, margin expansion and progress toward cash-flow targets. Winiecki expects another strong quarter, though valuation remains a key risk. Northrop Grumman ( NOC ): Valuation and program growth offer potential upside Julia Ostian sees an attractive entry point in Northrop Grumman ahead of Q3 earnings, citing its record backlog, raised guidance, and progress on key programs such as the B-21 bomber and Sentinel. While Q2 results showed strong sales and backlog growth, program charges and government funding timing continue to pose risks to margins and cash flow. Trading at 16.8 times 2026 EPS guidance and offering a dividend yield of about 2%, the stock could benefit if execution improves, although Ostian cautions that disappointing margins or cash flow could trigger further volatility. GE Aerospace ( GE ): Large backlog supports long-term growth Ryan Canady notes that General Electric has transformed into a focused aviation company, delivering robust growth and substantial cash generation. The company’s $210B backlog , equivalent to about five times its 2025 adjusted revenue, provides strong revenue visibility and reinforces long-term business stability ahead of its Q3 results.