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Business/Financial

Sales Up, Earnings Down In Northrop Grumman’s Third Quarter; Raises Earnings Outlook

By Cal Biesecker

Thursday, October 24th, 2019

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Sales Up, Earnings Down In Northrop Grumman’s Third Quarter; Raises Earnings Outlook

Northrop Grumman Chairman, President and CEO Kathy Warden. (Photo: Northrop Grumman)

Northrop Grumman [NOC] on Thursday posted mixed financial results in its third quarter with sales up but earnings down. Still, the company increased its adjusted earnings guidance for 2019, due to better segment operating margin, lower interest expense, and a lower tax rate. Net income in the quarter tumbled 25 percent to $933 million, $5.49 earnings per share (EPS), from $1.2 billion ($7.11 EPS) a year ago, two pennies above consensus per share estimates. Lower segment operating earnings, reduced pension…

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