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Business/Financial

Strong Operating Results Propel Northrop Grumman In Third Quarter

By Cal Biesecker

Thursday, October 22nd, 2020

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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…

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