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Northrop Grumman Posts Strong First Quarter, Raises Guidance

Cal Biesecker By
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Northrop Grumman Posts Strong First Quarter, Raises Guidance
Northrop Grumman Chair, President and CEO Kathy Warden. Photo: Northrop Grumman

Northrop Grumman [NOC] on Thursday reported a strong open to 2021, delivering higher sales and net income, buoyed in part by the divestiture in January of its information technology services business and top and bottom-line improvements in three of its four operating segments. The strong quarter led the company to increase guidance for sales and earnings. Net income in the first quarter soared 153 percent to $2.2 billion, $13.43 earnings per share (EPS), from $868 million ($5.15 EPS) a year…

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