Northrop Grumman Q4 net loss $535M on $1.56B B-21 charge; FY23 sales up 7% to $39.3B

NORTHROP GRUMMAN CORP /DE/

2023-FY EPS reported $13.53 revenue$39,290,000,000

Q4 net loss of $535M ($3.54 loss per diluted share) vs net income $2.08B ($13.46 EPS) in Q4 2022.
Records $1.56B pre-tax charge on B-21 program LRIP phase; full-year diluted EPS of $13.53 includes B-21 charge of $7.68.
Full-year sales $39.3B (+7% YoY); total backlog rises to record $84.2B with book-to-bill of 1.14.
Segment operating income down 35% to $2.76B; Aeronautics Systems swings to operating loss of $473M.
2024 guidance: expects continued sales & earnings growth; reaffirms free cash flow outlook with >15% CAGR through 2026.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

NORTHROP GRUMMAN CORP /DE/ reported the quarter and year ended December 31, 2023 results: revenue $10.6 billion, net income $535 million, EPS $3.54 per diluted share. Guidance reaffirmed.

Period: the quarter and year ended December 31, 2023
Revenue: $10.6 billion
Net income: $535 million
EPS: $3.54 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Fourth Quarter and Full-Year 2023 Financial Results • Total backlog rises to record $84.2 billion driven by full year book to bill of 1.14 • Q4 Sales increase 6 percent to $10.6 billion; 2023 sales increase 7 percent to $39.3 billion • Company records $1.56 billion pre-tax charge associated with LRIP phase of B-21 program • 2023 Diluted EPS of $13.53, including

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Source: SEC EDGAR

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