1. Lockheed Martin's Q3 earnings report showed flat sales and a decline in free cash flow, leading to a 6% drop in stock price. 2. Despite missing sales estimates, Lockheed Martin's GAAP EPS and core earnings per share beat expectations, with a strong backlog indicating robust demand. 3. Risks include ongoing negotiations for the F-35 program, but the company expects delayed cash flow to reverse by 2025, boosting future growth.