Sign In
Search
Business/Financial

Tax Benefit Sends Northrop Grumman’s Earnings Higher In Opening Quarter

Cal Biesecker By
SHARE:
Tax Benefit Sends Northrop Grumman’s Earnings Higher In Opening Quarter
Artist's rendering of the Air Force's Long Range Strike Bomber, designated B-21. Northrop Grumman, the prime contractor for the program, doesn't mention the B-21 in its earnings releases because it is classified. The company said classified manned aircraft contributed to higher sales in 2019 and will do so again in 2020. Image: Air Force.

Northrop Grumman [NOC] on Wednesday reported strong first quarter earnings driven by an accounting change that led to a handsome tax benefit while sales were level with a year ago.Net income jumped 15 percent to $556 million, $3.03 earnings per share (EPS), from $484 million ($2.41 EPS) a year ago, cruising above consensus estimates by 40 cents per share. The company adopted an accounting standard update related to share-based compensation expense that added $80 million (44 cents EPS) to the…

Subscriber-only content. Please log in below.

Not a subscriber or registered user yet?

Please contact us at clientservices@accessintel.com or call us at 888-707-5814 (Monday – Thursday 9:00 a.m. – 5:30 p.m. and Friday 9:00 a.m. – 3:00 p.m. ET.), to start a free trial, get pricing information, order a reprint, or post an article link on your website.

Recommended

Advanced / Transformational Technology

DIU Picks Five Companies As Winners of Drone Dominance Program’s Lethality Challenge

Defense Watch

Defense Watch: Golden Dome Munitions, Collaborative Autonomy, New Glenn News, P-8 News

Defense Watch

Defense Watch: Sub Deal Soon, Mach Buy, THAAD Investment, CUAS Marketplace

Trending

Marine Corps Explores Adding Second Supplier For ‘Production-Ready’ JLTVs
Space Force Awards SpaceX $2.3 Billion Contract For Space Data Network 
Space Force Awards Viasat And Intelsat General $438 Million For Continued Work On PTS-G
DoD Opens $30 Million Prize Challenge For Autonomous Non-Tactical Vehicles
Rocket Lab To Design, Build And Operate Two GEO Satellites For Space Domain Awareness Under $90 Million Contract

Congress Updates

Congress

Warren And Sheehy Renew Call for “Right to Repair” In NDAA

Sen. Elizabeth Warren (D-Mass.) and Sen. Timothy Sheehy (R-Mont.), two members of the Senate Armed Services Committee (SASC), are renewing their call for “Right to Repair” language in the National […]

Navy/USMC

HASC Looks To Restrict USV Deliveries Without Navy CONOPS And Strategy

The House Armed Services Committee’s (HASC) fiscal year 2027 defense policy draft bill aims to restrict the Navy’s use of unmanned surface vessels (USV) until it decides on key factors […]

Congress

Gaps In Army’s Tactical Counter-Drone Capabilities Remain Concern Of HASC

A draft defense policy bill released this week says the Army is fielding counter-drone capabilities for defense of fixed sites and maneuver forces but suggests that troops at the lowest […]

Army

HASC Wants Closer Look At Army’s SBMC Program, Cites Avoiding Past IVAS Missteps

The House Armed Services Committee (HASC) wants a closer look at the Army’s Soldier Borne Mission Command (SBMC) effort, citing support for the development program while expressing caution to avoid […]

The Force Multipliers

Force Multipliers

Michael DiOrio – Dataminr

Force Multipliers

Arne Brinck – Dark Wolf Solutions

Force Multipliers

Jags Kandasamy – Latent AI

Force Multipliers

Force Multipliers – Krista McKendree

Job Feed

Post a Job // Post a Resume