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Business/Financial

Operations Lead Northrop Grumman To Strong First Quarter Results

By Cal Biesecker

Thursday, April 25th, 2024

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Operations Lead Northrop Grumman To Strong First Quarter Results

Northrop Grumman in November 2023 flew the B-21 stealth bomber for the first time (Northrop Grumman Photo)

Northrop Grumman [NOC] on Thursday reported strong first quarter results driven by gains across its operating segments, particularly Aeronautics Systems, which benefited from work on fighter and unmanned aircraft. Net income increased 12 percent to $944 million, $6.32 earnings per share (EPS), from $842 million ($5.50 EPS) a year ago, smashing consensus estimates of $5.78 per share. Sales increased 9 percent to $10.1 billion from $9.3 billion. Aeronautics Systems enjoyed strong double-digit growth in revenue and operating profit driven by…

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