Driving the growth, net sales advanced 23% annually to $8.1 billion during the quarter when acquisition-related gains and higher sales at the Aerospace and Mission Systems were partially offset by lower sales at Technology Services.
“As we continue integrating Innovation Systems, we’re aggressively addressing the enhanced opportunity set resulting from our combination,” said Northrop COO Kathy Warden.
General Dynamics dips on Q3 sales miss, despite upbeat earnings
Encouraged by the positive outcome, the management revised up its full-year earnings outlook to the range of $18.75 per share to $19.00 per share from the previous forecast of 16.60- 16.85 per share. The cash flow guidance was raised to the range of $2.5 billion to $2.7 Billion.
Northrop shares slipped about 3.5% since the beginning of the year, all along underperforming the S&P 500 index. The stock, which gained slightly after the earnings report Wednesday, retreated as trading progressed, losing more than 3% in the early hours.