NOC - Northrop Grumman's stock declines as profit falls
2023-07-27 14:09:47 ET
Northrop Grumman ( NYSE: NOC ) on Thursday fell as much as 5.6% after the aerospace and defense company reported Q2 results.
Net earnings declined 14% to $812 million, or $5.34 a share, from $946 million, or $6.06 a share, a year earlier. EPS matched the consensus estimate of $5.34.
Sales rose 9% to $9.58 billion, beating the consensus estimate of $9.34 billion.
Northrop’s ( NOC ) space systems segment boosted sales by 17% to $3.49 billion, while defense systems advanced 10% to $1.42 billion.
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Northrop Grumman’s stock declines as profit falls