Details of the Deal What's Favoring Northrop? On the other hand, the E-2C Hawkeye 2000 variant possesses the most advanced AEW&BM capabilities in service today. It is the fifth-generation production E-2C Hawkeye and incorporates significant enhancements in data management, connectivity, and situational awareness to support the Navy's evolving Theater Air and Missile Defense mission. This must have prompted the Mordor Intelligence firm to project a CAGR of 5.2% for the global military aviation market over th ...

Valued at $32.6 million, the contract is expected to be completed by December 2027. The latest modification enables Northrop to provide continued fabrication and installation support to include Tactical Targeting Network Technology and the Beyond Line of Sight for the E-2D Advanced Hawkeye aircraft. Majority of the work related to this deal will be carried out in Melbourne, FL. Northrop Grumman Corp.'s (NOC) business unit, Northrop Grumman Systems Corp., recently secured a modification contract involving it ...

Northrop Grumman Corporation (NYSE:NOC) Bernstein's 40th Annual Strategic Decisions Conference May 30, 2024 9:00 AM ET Company Participants Kathy Warden - Chairman and CEO Conference Call Participants Douglas Harned - Bernstein Douglas Harned Okay. Let's get started. I'm really happy to have with us again, Kathy Warden, Chairman and CEO of Northrop Grumman. Kathy, you may have a few words to start out with here. Kathy Warden I do. Thanks, Doug. Thanks for having us again. I just want to start with a reminde ...

Northrop Grumman Corporation (NYSE:NOC) Conference Call Summary Company Overview - Northrop Grumman Corporation is experiencing strong business growth, with a 9% increase in revenue, 10% increase in earnings, and 15% increase in free cash flow for the first quarter of the year [2][3][4] - The company has reaffirmed its guidance for growth in the 4% to 5% range and free cash flow growth at about 17% [2][3] Key Financial Metrics - Revenue increased by 9% [2] - Earnings increased by 10% [2] - Free cash flow increased by 15% [2] - Dividend increased by 10% [3] - Planned share repurchases of over $2 billion for the year [4] Industry Dynamics - There is a strong global demand for Northrop Grumman's products and services, particularly from international markets, especially Europe [6][7] - The company has expanded its product offerings, including exportable unmanned systems and missile defense capabilities [7] - Macroeconomic pressures, such as supply chain challenges and labor market tightness, are subsiding, allowing for better fulfillment of demand [8] Defense Budget Environment - The current defense budget is under congressional caps, leading to pressure on top-line growth [10] - Despite budget constraints, there is bipartisan support for defense spending, and the company is optimistic about future appropriations [11][13] Program Updates - The B-21 program is a focus, with efforts to avoid further financial charges and ensure successful execution [19][20] - Aeronautics is returning to growth, driven by the B-21 and other programs like F-35 and Triton [24][28] - The Sentinel program is undergoing a review process, with expectations for recertification and continued execution [35][36] International Opportunities - Northrop Grumman is positioned for significant international growth, with a focus on unmanned systems, tactical missiles, and Integrated Air and Missile Defense [44][47] - The company anticipates double-digit growth in international demand, especially as U.S. budgets remain flat [48] Space Segment - The Space segment is expected to experience flat growth due to budget constraints, but the company has a strong backlog to support ongoing projects [52][54] - Northrop Grumman is actively participating in next-generation space programs, including SDA awards [57][59] Missiles Business - The missiles business is experiencing increased demand, with specific programs like AARGM-ER showing growth potential [67][71] - The company has gained market share in rocket motors due to increased capacity and execution [73] Mission Systems - The Mission Systems segment is facing margin pressures but is expected to return to a 15% margin as macroeconomic challenges subside [75][78] Capital Expenditure and Free Cash Flow - The company is guiding for $1.8 billion in CapEx this year, with expectations to normalize spending in the future [84][86] - Free cash flow growth is projected at 17% for the year, with expectations for continued strong performance [88] Leadership and Succession - Recent leadership changes were made in anticipation of retirements, with a focus on maintaining continuity and strong execution [15][17] Conclusion - Northrop Grumman is optimistic about its growth prospects, focusing on executing key programs and expanding its international presence while navigating budgetary constraints and macroeconomic challenges [90]

Contact: Cindy Anderson (Media) 571-550-1814 cindy.anderson@ngc.com Northrop Grumman is a leading global aerospace and defense technology company. Our pioneering solutions equip our customers with the capabilities they need to connect and protect the world, and push the boundaries of human exploration across the universe. Driven by a shared purpose to solve our customers' toughest problems, our employees define possible every day. Note: Statements to be made at the conference, including in the presentation ...

Note: Statements to be made at the conference, including in the presentation and in any accompanying materials, contain or may contain statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "will," "expect," "anticipate," "intend," "may," "could," "should," "plan," "project," "forecast," "believe," "estimate," "guidance," "outlook," "trends," "goals" and similar expressions generally identify these forward-looking sta ...

The B-21 Raider continues its flight test campaign at Edwards Air Force Base, California. (Photo Credit: Northrop Grumman) EDWARDS AIR FORCE BASE, Calif., May 23, 2024 (GLOBE NEWSWIRE) -- (PHOTO RELEASE) Northrop Grumman Corporation's (NYSE:NOC) B-21 Raider continues its flight test campaign at Edwards Air Force Base, California, led by a Combined Test Force (CTF) comprised of Northrop Grumman and U.S. Air Force personnel. CTF test pilots indicate the jet is performing as expected with the aircraft flying l ...

The B-21 Raider continues its flight test campaign at Edwards Air Force Base, California. (Photo Credit: Northrop Grumman) EDWARDS AIR FORCE BASE, Calif., May 23, 2024 (GLOBE NEWSWIRE) -- (PHOTO RELEASE) Northrop Grumman Corporation's (NYSE: NOC) B-21 Raider continues its flight test campaign at Edwards Air Force Base, California, led by a Combined Test Force (CTF) comprised of Northrop Grumman and U.S. Air Force personnel. CTF test pilots indicate the jet is performing as expected with the aircraft flying ...

Northrop Grumman Corp. (NOC) recently secured a modification contract for the Integrated Air and Missile Defense Battle Command System (IBCS). The award has been offered by the Army Contracting Command, Redstone Arsenal, AL. Valued at $49 million, the contract is expected to be completed by Mar 31, 2025. The work related to this deal will be executed at Huntsville, AL. The contract includes foreign military sales to Poland. What's Favoring Northrop? Growth Prospects The global peace index reflects an unstab ...

Northrop Grumman is great at building military airplanes. So why does it want to go back to doing something it's not as good at? Thirteen years ago, military aerospace and shipbuilding giant Northrop Grumman (NOC -0.10%) made the strategic decision to jettison its shipbuilding unit and focus its business on aerospace instead. At the time of the spinoff, the rejected unit, Huntington Ingalls (HII -0.22%), was valued at approximately $2.5 billion in market capitalization, leaving the rest of Northrop Grumman ...