Northrop Grumman Corp. stock was up by 0.8% in premarket trades Thursday after the defense contractor beat its revenue and earnings target and raised the low...
Northrop Grumman Corp. NOC stock was up by 0.8% in premarket trades Thursday after the defense contractor beat its revenue and earnings target and raised the low end of its 2023 outlook. Northrop reported second-quarter profit of $812 million, or $5.34 a share, down 14% from $946 million, or $6.06 a share, in the year-ago quarter. The company beat the analyst forecast of $5.33 a share, according to estimates compiled by FactSet. The latest quarter also included $1.
The company beat the analyst forecast of $5.33 a share, according to estimates compiled by FactSet. The latest quarter also included $1.01 a share for a pension-related item. Northrop Grumman’s revenue increased by 9% to $9.6 billion, well ahead of the analyst view of $9.36 billion. Northrop boosted its 2023 sales outlook by $400 million to a range of $38.4 billion to $38.8 billion, compared to the analyst estimate of $38.4 billion.
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