Northrop Grumman Corp. (NOC), while releasing higher third-quarter earnings above market estimates, on Tuesday lifted its adjusted earnings forecast for fiscal 2025, also above the market view. Meanwhile, the company trimmed sales view below the Street as quarterly sales also missed analysts' numbers.
In the pre-market activity, Northrop Grumman shares were losing around 2.2 percent to trade at $589.50.
For fiscal 2025, the company now expects MTM-adjusted earnings per share of $25.65 to $26.05, a growth by $0.65 from previous estimate of $25.00 to $25.40.
Meanwhile, the company trimmed sales view to $41.70 billion to $41.90 billion from previously projected sales of $42.05 billion to $42.25 billion.
The Wall Street analysts on average expect the company to report earnings of $25.42 per share on sales of $42.19 billion for the year. Analysts' estimates typically exclude special items.
Kathy Warden, chair, chief executive officer and president, said, "As a result of this performance and our positive outlook for the remainder of the year, we are once again increasing our 2025 EPS guidance.... As we look to the future, we expect global demand to remain strong for our portfolio, with growth in each of our four business segments next year."
In its third quarter, bottom line totaled $1.100 billion or $7.67 per share, compared with $1.026 billion or $7.00 per share last year.
Analysts had expected the company to earn $6.46 per share.
The company's sales for the period rose 4.3 percent to $10.423 billion from $9.996 billion last year. The Street was looking for sales of $10.71 billion.
The third-quarter sales growth reflected continued strong demand for global capabilities.
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