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Business/Financial

Northrop Grumman’s Fourth Quarter Earnings Tumble Despite Strong Sales

By Cal Biesecker

Thursday, January 26th, 2023

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Northrop Grumman’s Fourth Quarter Earnings Tumble Despite Strong Sales

Northrop Grumman Chair, President and CEO Kathy Warden. Photo: Northrop Grumman

Northrop Grumman [NOC] on Thursday reported lower net income in the fourth due to lower pension benefits, although segment operations and sales were strong on contributions from across the company’s sectors. Net income fell 23 percent to $2.1 billion, $13.46 earnings per share (EPS), from $2.7 billion ($17.14 EPS) a year ago. Excluding mark-to-market adjustments for pension and tax impacts, per share earnings were higher at $7.50 versus $6 EPS a year ago, beating consensus estimates by 93 cents EPS.…

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