Northrop Grumman Corporation (NOC, Financial) announced its first-quarter financial results, revealing a revenue of $9.47 billion, which fell short of analysts’ expectations of $9.95 billion. The company's earnings per share (EPS) for the quarter was impacted by a loss provision of $2.74 related to the B-21 LRIP project.
Despite the revenue miss, the firm highlighted strong global demand for its products, which has led to a record backlog for the first quarter. Kathy Warden, the company's chair, CEO, and president, emphasized the progress being made on key programs and expressed a commitment to innovation, market expansion, and optimized performance.
Northrop Grumman has maintained its sales and free cash flow guidance for the year, signaling confidence in achieving sustainable growth. The company appears to be focusing on long-term strategies to meet its customers' needs and maximize shareholder value.
