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Business/Financial

Northrop Grumman Takes $1.2 Billion Charge On B-21; Expects Losses Through Decade On LRIP Lots

By Cal Biesecker

Thursday, January 25th, 2024

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Northrop Grumman Takes $1.2 Billion Charge On B-21; Expects Losses Through Decade On LRIP Lots

Northrop Grumman in November 2023 flew the B-21 stealth bomber for the first time (Northrop Grumman Photo)

After previously warning of a potential but not “probable” loss on the initial B-21 stealth bomber production contracts, Northrop Grumman [NOC] on Thursday reported a $1.2 billion after-tax charge on the program that covers the first five low-rate initial production (LRIP) options due to various “macroeconomic factors” impacting the cost to complete that work. The first B-21 LRIP option was awarded late last fall after Northrop Grumman conducted a successful first flight of the next-generation bomber. The remaining LRIP options…

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