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Northrop Grumman Ends Strong Year On High Note, Adds To Share Buyback Program

Cal Biesecker By
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Northrop Grumman Ends Strong Year On High Note, Adds To Share Buyback Program
Northrop Grumman Chair, President and CEO Kathy Warden. Photo: Northrop Grumman

Northrop Grumman [NOC] on Thursday said it swung to a profit in the fourth quarter on strong sales and the company also substantially boosted its share repurchase program with plans to buy back $3 billion worth of its stock in 2021. Net income in the quarter was $330 million, $1.97 earnings per share (EPS), versus a $409 million ($2.43 EPS) loss a year ago, which was due to adopting a change in how it accounts for pension and other post-retirement…

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