Northrop Grumman Earnings: Here’s Why Investors Like These Results
Northrop Grumman Corporation (NYSE:NOC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3%.
Northrop Grumman Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 9.04% to $2.05 in the quarter versus EPS of $1.88 in the year-earlier quarter.
Revenue: Rose 0.32% to $6.29 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Northrop Grumman Corporation reported adjusted EPS income of $2.05 per share. By that measure, the company beat the mean analyst estimate of $1.71. It beat the average revenue estimate of $5.98 billion.
Quoting Management: “Second quarter and year-to-date financial results reflect the hard work and dedication of the entire Northrop Grumman team. As a company, we remain focused on program performance, effective cash deployment and portfolio alignment as we continue to create value for our shareholders, customers and employees,” said Wes Bush, chairman, chief executive officer and president.
Key Stats (on next page)…
Revenue increased 3.11% from $6.1 billion in the previous quarter. EPS increased 0.99% from $2.03 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $1.73 and has not changed. For the current year, the average estimate has moved up from a profit of $7.08 to a profit of $7.18 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)