Northrop increases adjusted earnings guidance after strong defense order intake
Northrop Grumman ($NOC) reported quarterly sales of $11.1 billion, up 7%, and net earnings of approximately $1.1 billion. Earnings per share increased to $7.89 from $7.67. New awards totaled $16.4 billion, lifting backlog to $109.6 billion. Aeronautics sales grew 14% and defense sales increased 12%, contributing to the company’s expansion despite differing conditions across its operating businesses. The company raised its full-year mark-to-market-adjusted earnings forecast to $29.35–29.75 per sh
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