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Business/Financial

Northrop Grumman Posts Strong Second Quarter, Raises Guidance

By Cal Biesecker

Thursday, July 30th, 2020

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Northrop Grumman Posts Strong Second Quarter, Raises Guidance

Northrop Grumman Chairman, President and CEO Kathy Warden. (Photo: Northrop Grumman)

Bolstered by generally solid results across its operating segments, Northrop Grumman [NOC] on Thursday reported higher sales and earnings in its second quarter and the company raised its outlook for the top and bottom lines for 2020. Net income rose 17 percent to $1 billion, $6.01 earnings per share (EPS), from $861 million ($5.06 EPS) a year ago, smashing consensus estimates by 69 cents per share. The company attributed the higher earnings to a pension benefit, segment performance, and favorable…

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