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Northrop Grumman Swings To Profit In Fourth Quarter

Cal Biesecker By
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Northrop Grumman Swings To Profit In Fourth Quarter
Kathy Warden, chair, president, and CEO of Northrop Grumman. Photo: Northrop Grumman

Northrop Grumman [NOC] on Thursday said it swung to a profit in the fourth quarter on a pension-related benefit and because year ago results were hit by a charge on the Air Force’s B-21 stealth bomber program. Net income of $1.3 billion, $8.66 earnings per share (EPS) compared to a loss of $535 million ($3.54 EPS) a year ago when the company took a nearly $1.2 billion after-tax charge on the B-21 due to macroeconomic factors for the first five…

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