Northrop Grumman Corp. (NOC) recently announced that its board of directors approved a 10% hike in its quarterly dividend to $2.06 per share, marking the 21st consecutive annual dividend hike. The revised quarterly dividend is payable on Jun 10, 2024, to shareholders of record at the close of business on May 28. Following the recent hike, Northrop will now pay out an annual dividend of $8.24 per share. This represents an annual dividend yield of 1.75% based on its share price worth $470.69 as of May 15. NOC ...

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. Contact: Jessica Kershaw (Media) 410-271-0540 jessica.kershaw@ngc.com Todd Ernst (Investors) 703-280-4535 (office) todd.ernst@ngc.com FALLS CHURC ...

Roeder was elected president of Defense Systems in October 2022. Prior to this, she was vice president and general manager of the Airborne Multifunction Sensors division in the Mission Systems sector. In her 22-year career with Northrop Grumman, she has led many different businesses and functions for the company. She holds a bachelor's degree in computer engineering from Virginia Tech. In his 26-year career with Northrop Grumman, Davies has held many leadership positions, including general manager for Missi ...

Matthis Arrivet In November 2023, I covered Northrop Grumman Corporation (NYSE:NOC) stock, assigning it a Hold rating as I believed the stock was fairly valued. That call seems to have been about right given that the stock returned less than 2% while the S&P 500 (SP500) returned nearly 22%. In this report, I will discuss why shares have underperformed, analyze the most recent results, and assess whether the stock is any more compelling today to warrant a Buy rating. B-21 Stealth Bomber Is Seeing Increasing ...

Northrop Grumman (NOC) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this defense contractor have returned +4%, compared to the Zacks S&P 500 composite's -4.1% change. During this period, the Zacks Aerospace - Defense industry, which Northrop Grumman falls in, has lost 9.2%. The key question now is: What could be the stock's future direction?Whil ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-16411 NORTHROP GRUMMAN CORPORATION (Exact name of registrant as specified in its charter) Delaware 80-0640649 2980 Fairview Park Drive Falls Church, Virginia 22042 (Address of ...

Financial Data and Key Metrics Changes - The company reported a 9% year-over-year increase in Q1 sales, reaching $10.1 billion, with strong performance across all four sectors [6][37] - Operating income increased by 10% year-over-year to $1.1 billion, with a solid margin rate of 10.9% [38] - Diluted EPS rose by 15% to $6.32, driven by strong segment performance and a lower share count [40] Business Line Data and Key Metrics Changes - Defense systems sales increased by 3%, primarily due to growth in the weapons business, partially offset by lower volume in an international training program [16] - Mission systems sales grew by 4%, led by advanced microelectronics programs, while space sales increased by 9% with broad-based growth [16] - Aeronautics operating income surged by 25%, achieving a margin rate of 10% due to efficient indirect rate performance and productivity initiatives [17] Market Data and Key Metrics Changes - The U.S. defense budget for FY 2024 reflects a 6% growth in investment accounts over 2023, supporting the company's key programs [29] - The company sees a robust pipeline of approximately $10 billion for the IBCS product line from various countries [8] - Demand for missile products and ammunition is on the rise, with significant opportunities for allies to replenish stockpiles [9][138] Company Strategy and Development Direction - The company is focused on technology leadership and performance, with a capital deployment strategy aimed at creating value for customers and shareholders [14][36] - Investments in microelectronics and advanced electronics facilities are expected to enhance capabilities and support growth [32][33] - The company is committed to addressing supply chain challenges and enhancing production capacity, particularly in solid rocket motors [46][120] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term outlook despite a potentially slower top-line growth environment for the U.S. defense budget in the short term [7] - The company is optimistic about international opportunities and expects to see growth in its weapons systems business [30][104] - Management noted that the Nunn-McCurdy review is ongoing, with strong bipartisan support for critical programs like Sentinel [131] Other Important Information - The company completed a $2.5 billion debt offering to retire maturing notes and for general corporate purposes, including share repurchases [22] - Free cash flow for Q1 was an outflow of approximately $1 billion, with expectations for strong cash generation in Q2 [19] - The company initiated a $1 billion accelerated share repurchase in Q1, with total repurchases reaching $1.2 billion [72] Q&A Session All Questions and Answers Question: What are the opportunities in aeronautics? - Management noted that there are several opportunities being pursued, and they are raising sales guidance for the aeronautics business based on current portfolio strength [24] Question: Can you discuss the trajectory of the Defense Systems business? - Management expects growth in the Defense Systems business to reflect a shift towards higher-margin weapons and battle management portfolios, contributing to margin improvement [56] Question: How does the Air Force's budget proposal affect the B-21 program? - Management clarified that the budget adjustments do not change the program's economics, as they are reconciling to contract values rather than independent cost estimates [78] Question: What is the outlook for international sales? - Management indicated that international sales currently represent about 14% of revenue and are expected to grow faster than domestic sales due to a rich pipeline of opportunities [117] Question: How is the company addressing supply chain challenges in shipbuilding? - Management acknowledged supply chain challenges but expressed optimism about delivering capabilities in the shipbuilding portfolio [120]

Northrop Grumman Corporation (NOC) reported first-quarter 2024 earnings of $6.32 per share, which beat the Zacks Consensus Estimate of $5.83 by 8.4%. The bottom line increased 15% from $5.50 recorded in the year-ago quarter.The year-over-year improvement can be attributed to an increase in operating income, as well as an increase in the non-operating FAS pension benefit.Total SalesNOC’s total sales of $10.13 billion beat the Zacks Consensus Estimate of $9.78 billion by 3.6%. The top line also increased 8.9% ...

Northrop Grumman (NOC) came out with quarterly earnings of $6.32 per share, beating the Zacks Consensus Estimate of $5.83 per share. This compares to earnings of $5.50 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.40%. A quarter ago, it was expected that this defense contractor would post earnings of $5.75 per share when it actually produced earnings of $6.27, delivering a surprise of 9.04%.Over the last four quarters, the ...

NORTHROP GRUMMAN April 25, 2024 Kathy Warden Chair, Chief Executive Officer and President Forward-Looking Statements Forward-looking statements include, among other things, statements relating to our future financial condition, results of operations and/or cash flows. Forward-looking statements are based upon assumptions, expectations, plans and projections that we believe to be reasonable when made, but which may change over time. These statements are not guarantees of future performance and inherently inv ...