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Northrop Grumman’s Per Share Earnings Increase Despite Drop In Net Income

Cal Biesecker By
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Northrop Grumman’s Per Share Earnings Increase Despite Drop In Net Income
The Triton arriving at Naval Air Station Patuxent River, Md. Sept. 18, 2014. Photo: U.S. Navy

Northrop Grumman [NOC] on Wednesday posted solid gains in its per share earnings due to its stock buyback program, which lowered the company’s overall share count, even though net income fell largely due to pension adjustments. Net income slipped 5 percent to $473 million, $2.26 earnings per share (EPS), from $497 million ($2.14 EPS) although per share earnings were up 6 percent on the reduced share count. The results beat Wall Street estimates by 13 cents EPS. Free cash flow…

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