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Northrop Grumman’s Earnings Slip On Pension Headwinds; Raises Earnings Guidance

Cal Biesecker By
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Northrop Grumman’s Earnings Slip On Pension Headwinds; Raises Earnings Guidance
Northrop Grumman Chair, President and CEO Kathy Warden. Photo: Northrop Grumman

Northrop Grumman [NOC] on Thursday reported lower net income in its first quarter largely due to a decline in pension income while the company recorded a healthy sales gain and raised its earnings guidance for the year due to the pending sale of a stake in a business. Net income slid 12 percent to $842 million, $5.50 earnings per share (EPS), from $955 million ($6.10 EPS) a year ago, easily beating consensus estimates of $5.14 EPS. Lower pension income clipped…

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