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Business/Financial

Northrop Grumman Touts B-21 Benefit In First Quarter; Income, Sales Slip

By Cal Biesecker

Thursday, April 28th, 2022

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Northrop Grumman Touts B-21 Benefit In First Quarter; Income, Sales Slip

Pictured is an artist rendering of the B-21 Raider (Northrop Grumman)

Northrop Grumman [NOC] on Thursday posted first quarter results that included a boost from its ongoing development work on the Air Force’s B-21 next-generation stealth bomber. The $67 million benefit on the B-21 stems from a favorable estimate-at-completion (EAC) adjustment attributed to performance benefits on the engineering and manufacturing development (EMD) contract. An EAC refers to the hours expected to complete a project or milestone. The gain on the contract was partially offset by a benefit a year ago from…

‘Theoretical Potential’ to Achieve 1,509 Combat-Coded Fighters by 2035, USAF Says

In the latest U.S. Air Force fighter force structure report submitted to Congress, the service speaks of a “theoretical potential” to achieve a goal of 1,509 combat-coded fighters in the […]

Budget

Hegseth Pushes For Reconciliation With At Least $350 Billion For Defense ‘Regardless’ Of Midterms Outcome

Defense Secretary Pete Hegseth said Wednesday the Trump administration plans to continue its push for at least $350 billion in defense funds via the reconciliation process “regardless of what happens […]

Congress

Bipartisan Push in Senate to Hasten Export of 155 mm, GMLRS, HIMARS for Ukraine

A small, bipartisan group of senators is backing the Fast Tracking European Investment in Ukraine’s Defense Act, S. 5175, to hasten the export of allied buys of U.S. munitions for […]

Congress

Rep. Himes Signals Increased Contractor Oversight, if Democrats Win House

Rep. Jim Himes (D-Conn.), the ranking member of the House Permanent Select Committee on Intelligence, plans to increase the committee’s contractor oversight if the Democrats win control of the House […]