logo
Plus   Neg
Share
Email

Northrop Grumman Raises 2018 EPS Guidance - Quick Facts

Northrop Grumman Corp. (NOC) announced, for 2018, the company now expects earnings per share in the range of $16.60 — $16.85, up from previous guidance range of $16.20 — $16.45. The company continues to expect 2018 sales of approximately $30.0 billion.

For the second quarter 2018, net earnings increased 24 percent to $689 million, or $3.93 per diluted share, compared with $555 million, or $3.16 per diluted share, in the prior year period. The company noted that its second quarter 2018 net earnings include earnings for Innovation Systems since the deal close, which were more than offset by a full quarter of net interest expense related to the acquisition and deal-related costs.

Second quarter 2018 sales increased 10 percent to $7.1 billion, which included sales of $400 million for recently acquired Orbital ATK for the period of June 7, 2018 through June 30, 2018.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Alibaba is upgrading its intellectual property system using blockchain technology, according to local news outlet Sohu. Alibaba Platform Management expects this to benefit mainly small and medium-sized enterprises, brands and entrepreneurs. The technology will be fully implemented in September, and thereafter, the company intends to expand it to the field of digital copyright protection. Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a 27 percent increase in profit for the first quarter from last year, which was impacted by restructuring charges, and higher revenues. Both adjusted earnings per share and revenues for the quarter topped analysts' estimates. The company also provides guidance for the second quarter and reiterated its outlook for the full-year 2020. While reporting financial results for the second quarter on Thursday, Hormel Foods Corp. (HRL) lowered its earnings and net sales guidance for the full-year 2019. For fiscal 2019, the company now projects earnings in a range of $1.71 to $1.85 per share, and net sales between $9.70 billion and $10.20...
Follow RTT