US earnings calls, 21-22 October 2026: Lockheed Martin and Honeywell raise outlooks

Lockheed Martin raised its fiscal 2026 sales outlook to $80 billion-$82 billion, and Honeywell raised its organic growth guidance to 4%-5%. Procter & Gamble and Norfolk Southern pointed to higher oil and fuel costs.

An update from FactIQ, written from company statements in earnings calls of companies listed in the United States. What is FactIQ?

Key figures

Lockheed Martin, sales outlook, fiscal year 2026

$80 billion-$82 billionstated by the chief financial officer; raised, approximately 8% full-year growth at the midpoint

Honeywell, organic growth guidance, fiscal year 2026

4%-5%stated by the chief financial officer; raised from 3%-4%

Procter & Gamble, combined earnings headwind, fiscal year 2027, after tax

$1.9 billionstated by the chief financial officer; roughly $0.79 per share, versus $0.56 per share shared in July

Norfolk Southern, incremental fuel expense in operating expense guidance, fiscal year 2026

$700 millionstated by the chief executive; approximately, versus the beginning-of-year view

Lockheed Martin and Honeywell raised their guidance for fiscal year 2026

Lockheed Martin: the chief financial officer said the company raised its sales outlook to $80 billion-$82 billion, approximately 8% full-year growth at the midpoint. The company also raised its segment operating profit outlook to $8.575 billion-$8.675 billion. It expects free cash flow of $7.8 billion-$8 billion.
Honeywell: the chief financial officer said the company raised its organic growth guidance to 4%-5% from 3%-4%. It raised its adjusted earnings per share (EPS), profit per share, guidance to $8.40-$8.45. It raised free cash flow guidance by $100 million to $2.1 billion.
Moody's: the chief financial officer said the company maintained its guidance for adjusted diluted EPS of $16.50-$17, representing 12% growth at the midpoint.

Higher oil and fuel prices are adding costs

Procter & Gamble: the chief financial officer said the company expects oil-related cost headwinds to be materially higher in the second quarter and second half of fiscal year 2027. It put its combined fiscal 2027 cost, currency and other earnings headwind at roughly $1.9 billion after tax, or $0.79 per share, versus $0.56 per share shared in July. It expects fiscal 2027 sales growth of 1%-3%.
Norfolk Southern: the chief financial officer said rising fuel prices made its operating ratio about 250 basis points worse than expected in the third quarter of fiscal year 2026. The chief executive said its operating expense guidance includes approximately $700 million of incremental fuel expense.

Data centers feature in several outlooks

NextEra Energy: the chief executive said its unit FPL raised its large-load expectations from 6 GW to 8 GW (gigawatts) by 2032.
Blackstone: an executive said the company expects data-center leasing across its global platform to increase threefold this year.

Other companies reported subscriber and earnings growth

Spotify: the chief executive said third-quarter fiscal 2026 revenue was about EUR 5 billion, up 14% at constant currency, with 306 million subscribers.
Barclays: the chief executive said the bank is on track to deliver 20% EPS growth for a third consecutive year in fiscal 2026.
Comcast: the chief financial officer said the company paused share repurchases as of July 1.

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