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Dec 31, 2021
Northrop Grumman Q4 2021 Earnings Report
Northrop Grumman reported Q4 2021 sales of $8.6 billion and EPS of $17.14, including a per share MTM benefit of $11.14.
Key Takeaways
Northrop Grumman reported fourth quarter 2021 sales of $8.6 billion. Fourth quarter 2021 net earnings increased to $2.7 billion including a $1.8 billion after-tax mark-to-market pension and OPB (“MTM”) benefit. Fourth quarter 2021 transaction-adjusted net earnings were $948 million, or $6.00 per diluted share, and include an after-tax charge of $73 million, or $0.46 per diluted share, on the F-35 program at Aeronautics Systems largely driven by COVID-19-related impacts.
Q4 Sales of $8.6 Billion; 2021 Sales of $35.7 Billion; 2021 Organic Sales Increase 3 Percent
Q4 EPS of $17.14, including per share MTM benefit of $11.14; Q4 Transaction-Adjusted EPS of $6.00
2021 EPS of $43.54; Transaction-Adjusted EPS Increase 8 Percent to $25.63
$4.7 Billion returned to shareholders via dividends and share repurchases in 2021
Revenue by Segment
Forward Guidance
2022 Guidance: Sales ~$36,200—~$36,600 million, Transaction-adjusted EPS $24.50—$25.10, Transaction-adjusted free cash flow assuming section 174 tax deferral ~$2,500—~$2,800 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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