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Lower Taxes, Pension Benefit Propel Northrop Grumman’s Earnings Higher In Second Quarter

Cal Biesecker By
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Lower Taxes, Pension Benefit Propel Northrop Grumman’s Earnings Higher In Second Quarter
Kathy Warden, chairman, president and CEO of Northrop Grumman. (Photo: Northrop Grumman)

Northrop Grumman [NOC] on Wednesday reported a huge leap in its bottom line in the second quarter driven primarily by a lower tax rate and a pension benefit and the company increased its profit guidance for 2018 based on a lower than expected tax rate this year.Net income jumped 24 percent to $689 million, $3.93 earnings per share (EPS), from $555 million ($3.16 EPS), beating consensus estimates by nine cents a share. Operating martin rate slipped 1.9 percent to 11.6…

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