:

Business/Financial

Northrop Grumman’s First Quarter Profit Tumbles But Beats Estimates

By Cal Biesecker

Wednesday, April 29th, 2015

SHARE:

Northrop Grumman’s First Quarter Profit Tumbles But Beats Estimates

Northrop Grumman Chairman and CEO Wes Bush. Photo: Northrop Grumman

Northrop Grumman [NOC] on Tuesday posted lower first quarter earnings due to declines in operating profits at two of its business segments, a less favorable pension adjustment versus a year ago, and a higher tax rate, but the results still beat consensus estimates and the company raised its earnings guidance for 2015.Net income slid 16 percent to $484 million, $2.41 earnings per share (EPS), from $579 million ($2.61 EPS), topping analysts’ estimates by 14 cents per share. Operating margins fell…

Congress

Appropriators Press For Details On Iran War Costs; DoD’s $29B Estimate Doesn’t Include Base Damage

The Pentagon estimates the U.S.’ ongoing conflict with Iran has now cost at least $29 billion, while a lead official noted the updated figure does not factor in damage to […]

Congress

Appropriators Offer Skepticism On $350B Defense Reconciliation Plan, ‘Big Risk’ For Key Initiatives

Senate and House Appropriators told Pentagon leadership on Tuesday they’re skeptical of the department’s plan to fund $350 billion of the fiscal year 2027 defense budget through the reconciliation process, […]

Congress

All Future Systems Should Have Autonomy Features, Reed Says

Last week, Sen. Jack Reed (D-R.I.) visited North Kingstown, R.I.-based Senesco, which is teaming with autonomous systems company Havoc to bid on the U.S. Navy’s Medium Unmanned Surface Vessel program. […]

Congress

Senate Appropriators Concerned With DoD’s Reconciliation Plan For Top FY ‘27 Priorities, Aide Says

Senate defense appropriators have concerns with the Pentagon’s decision to include key fiscal year 2027 funding priorities, such as critical munitions and drones production, among its request for $350 billion […]