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Sep 30, 2024
Northrop Grumman Q3 2024 Earnings Report
Northrop Grumman's Q3 2024 financial results were reported, featuring increased sales and earnings per share.
Key Takeaways
Northrop Grumman reported a 2% increase in sales to $10.0 billion for Q3 2024 compared to $9.8 billion in Q3 2023. Net earnings increased to $1.0 billion, or $7.00 per diluted share, from $937 million, or $6.18 per diluted share, in the same period last year. The company also raised its 2024 segment operating income and MTM-adjusted EPS guidance.
Net awards totaled $11.7 billion, leading to a record backlog of $85 billion.
Q3 sales reached $10.0 billion, with year-to-date sales up by 6 percent.
Operating margin rate was 11.2 percent, and the segment operating margin rate was 11.5 percent.
Diluted earnings per share increased by 13 percent to $7.00.
Revenue by Segment
Forward Guidance
Northrop Grumman raised the lower end of its 2024 segment operating income guidance and increased MTM-adjusted EPS guidance by 75 cents to $25.65 - $26.05.
Positive Outlook
- Sales are expected to be between $41.0 billion and $41.4 billion.
- Segment operating income is projected to be between $4.525 billion and $4.575 billion.
- MTM-adjusted EPS is guided to be in the range of $25.65 to $26.05.
- Free cash flow is estimated to be between $2.25 billion and $2.65 billion.
- Aeronautics Systems sales are expected to be around $12 billion with an operating margin rate of approximately 10%.
Challenges Ahead
- Defense Systems sales are expected to be high $8 billion with an operating margin rate of approximately 10%.
- Mission Systems sales are expected to be mid $11 billion with a high 13% operating margin rate.
- Space Systems sales are expected to be mid to high $11 billion with a mid to high 10% operating margin rate.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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