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Business/Financial

Northrop Grumman’s Earnings, Sales Up In Third Quarter On Strong Operating Performance

By Cal Biesecker

Thursday, October 26th, 2023

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Northrop Grumman’s Earnings, Sales Up In Third Quarter On Strong Operating Performance

The U.S. Air Force, DoD officials and Northrop Grumman participated in an unveiling of the B-21 Raider on Dec. 2, 2022 in Palmdale, Calif. (U.S. Air Force Photo)

Northrop Grumman [NOC] on Thursday reported a slight increase in third quarter earnings on robust sales growth due to strong operating performance at its business segments coupled with the sale of a minority stake in a business in Australia. Net income rose 2 percent to $937 million, $6.18 earnings per share (EPS), from $915 million ($5.89 EPS) a year ago, smashing consensus estimates by 37 cents per share. Earnings were held down by a $1 per share pension headwind. Segment…

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