:

Business/Financial

Strong Operating Results Propel Northrop Grumman In Third Quarter

By Cal Biesecker

Thursday, October 22nd, 2020

SHARE:

Strong Operating Results Propel Northrop Grumman In Third Quarter

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

Northrop Grumman [NOC] on Thursday posted solid third quarter financial results driven by strong operating performance at its business segments and pension gains, helping the company overcome higher taxes. Net income increased 6 percent to $986 million, $5.89 earnings per share (EPS), from $933 million ($5.49 EPS) a year ago, slamming consensus estimates by 27 cents per share. Sales increased 7 percent to $9.1 billion from $8.5 billion a year ago. All four of the company’s operating segments generated higher…

Congress

Kaine On Iranian Girls School Strike: “You Can Be Sure We’re Gonna Get The Answer To That One”

Sen. Timothy Kaine (D-Va.), the ranking member of the Senate Armed Services Committee (SASC) seapower panel, pledged on Tuesday that the Senate will get to the bottom of what happened […]

Congress

‘Right To Repair’ Reform In SASC’s FY ‘27 NDAA Sets “Government-Purpose Rights’ As Default

The “Right to Repair” provision secured in the Senate Armed Services Committee’s (SASC) version of the next defense policy bill would establish “government-purpose rights” as a default, requiring defense contractors […]

Advanced / Transformational Technology

Pentagon May Make ‘Tradeoffs’ For Low-Cost Autonomous Tech Without Reconciliation Funds, CTO Says

The Pentagon’s chief technology officer has said the department may need to make “tradeoffs” on certain capability priorities if Congress doesn’t pass a reconciliation with $350 billion in requested defense […]

Congress

SASC’s FY ‘27 NDAA Sticks With Army’s Plan For Legacy Aviation Procurement Cuts

The Senate Armed Services Committee’s (SASC) version of the next defense policy sticks to the Army’s proposed plan to cut procurement of its legacy aviation fleet, and does not authorize […]