earnings
confidence high
sentiment neutral
materiality 0.70
Northrop Grumman Q1 sales $8.8B, EPS $6.10, organic sales down 2%
NORTHROP GRUMMAN CORP /DE/
2022-Q1 EPS reported
$6.10
revenue$8,797,000,000
- Sales of $8.8B, down 4% YoY; organic sales declined 2% primarily due to Aeronautics and Defense Systems.
- Diluted EPS of $6.10 vs $13.43; excluding prior-year IT services divestiture gain, adjusted EPS down 7% to $6.10.
- Segment operating margin rate 11.8%; Space Systems sales up 13% on Next Gen Interceptor and GBSD ramp.
- Net awards $8.5B, backlog $75.8B; 2022 guidance reaffirmed.
- Operating cash flow used $(488)M; adjusted free cash flow $(732)M, consistent with second-half weighting.