Northrop Grumman: 2Q Earnings Snapshot

FALLS CHURCH, Va. (AP) _ Northrop Grumman Corp. (NOC) on Thursday reported second-quarter earnings of $1 billion.

The Falls Church, Virginia-based company said it had profit of $6.01 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $5.36 per share.

The defense contractor posted revenue of $8.88 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $8.59 billion.

Advertisement

Northrop Grumman expects full-year earnings in the range of $22 to $22.40 per share, with revenue in the range of $35.3 billion to $35.6 billion.

Northrop Grumman shares have declined slightly more than 8% since the beginning of the year, while the Standard & Poor’s 500 index has increased roughly 1%. The stock has dropped 11% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NOC at https://www.zacks.com/ap/NOC

Copyright © 2020 . All rights reserved. This website is not intended for users located within the European Economic Area.