Search

Northrop Grumman Reports Strong Fourth Quarter Despite Accounting Related Charge

Northrop Grumman Reports Strong Fourth Quarter Despite Accounting Related Charge
Artist's rendering of the Air Force's Long Range Strike Bomber, designated B-21. Northrop Grumman, the prime contractor for the program, doesn't mention the B-21 in its earnings releases because it is classified. The company said classified manned aircraft contributed to higher sales in 2019 and will do so again in 2020. Image: Air Force.

Northrop Grumman [NOC] on Thursday swung to a loss in its fourth quarter due to a change it adopted a year ago in accounting for pension and other post-retirement benefits, but sales were higher, free cash flow was robust, operating results were strong, adjusted earnings were well above consensus estimates and the company is forecasting top and bottom line growth in 2020. The net loss in the quarter, which includes a $1.4 billion expense related to use of the mark-to-mark…

Subscriber-only content. Please log in below.

Not a subscriber or registered user yet?

Please contact us at clientservices@accessintel.com or call us at 888-707-5814 (Monday – Thursday 9:00 a.m. – 5:30 p.m. and Friday 9:00 a.m. – 3:00 p.m. ET.), to start a free trial, get pricing information, order a reprint, or post an article link on your website.



Contract Updates

UPDATE: Eagle Safe Surfaces Colorado Inc. (Englewood, Colorado (SPE8EC-26-D-0006) – $139,000,000),

UPDATE: Eagle Safe Surfaces Colorado Inc.,*  Englewood, Colorado (SPE8EC-26-D-0006, $139,000,000), has been added as an awardee to the multiple award contract for snow removal equipment, issued against solicitation SPE8EC-21-R-0008 and awarded Jan. 20, 2023. The contracting activity is Defense Logistics…


AvKARE LLC (Pulaski, Tennessee) – $12,915,328

AvKARE LLC, Pulaski, Tennessee, has been awarded an estimated $12,915,328 firm-fixed-price requirements contract for telmisartan tablets. This was a competitive acquisition with nine responses received. This is a one-year base contract with four one-year option periods. Locations of performance are…


Bernard Cap LLC (Hialeah, Florida) – $18,857,146

Bernard Cap LLC,* Hialeah, Florida, has been awarded a maximum $18,857,146 firm-fixed-price, indefinite-delivery/indefinite-quantity contract for green service uniform garrison caps. This was a competitive acquisition with six responses received. This is a five-year contract with no option periods. The ordering…


Science Applications International Corp. (Reston, Virginia) – $26,253,706

Science Applications International Corp., Reston, Virginia, has been awarded a $26,253,706 cost-plus-fixed-fee contract in support of Air Force modeling simulation sustainment support. The Air Force modeling and simulation services support (AFMS3) contract provides comprehensive support to the Department of the…