Northrop Grumman: Q1 Earnings Snapshot

FALLS CHURCH, Va. (AP) _ Northrop Grumman Corp. (NOC) on Thursday reported first-quarter net income of $2.19 billion.

On a per-share basis, the Falls Church, Virginia-based company said it had net income of $13.43. Earnings, adjusted for non-recurring gains, came to $6.57 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $5.48 per share.

The defense contractor posted revenue of $9.16 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $8.53 billion.

Northrop Grumman expects full-year earnings in the range of $24 to $24.50 per share, with revenue in the range of $35.3 billion to $35.7 billion.

Northrop Grumman shares have risen 11% since the beginning of the year, while the S&P’s 500 index has risen 11%. The stock has fallen almost 2% in the last 12 months.

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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

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