NOC - Northrop Grumman GAAP EPS of $5.50 beats by $0.38 revenue of $9.3B beats by $110M

2023-04-27 06:56:14 ET

• Northrop Grumman press release ( NYSE: NOC ): Q1 GAAP EPS of $5.50 beats by $0.38 .
• Revenue of $9.3B (+5.7% Y/Y) beats by $110M .
• First quarter 2023 sales increased $504 million, or 6 percent, due to higher sales at Space Systems, Defense Systems and Mission Systems, partially offset by lower sales at Aeronautics Systems. First quarter 2023 sales reflect continued strong demand
• EPS guidance increased $0.40 ? Reaffirming 2023 guidance for sales, operating income, and adjusted free cash flow based on the strength of Q1 performance and full year outlook
• Expect gain on sale of minority investment in an international business later this year.

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