Earnings summaries and quarterly performance for NORTHROP GRUMMAN CORP /DE/.
Executive leadership at NORTHROP GRUMMAN CORP /DE/.
Kathy J. Warden
Detailed
Chair, Chief Executive Officer and President
CEO
John Greene
Detailed
Chief Financial Officer
Robert J. Fleming
Detailed
Corporate Vice President and President, Space Systems
Roshan S. Roeder
Detailed
Corporate Vice President and President, Mission Systems
Thomas H. Jones
Detailed
Corporate Vice President and President, Aeronautics Systems
Board of directors at NORTHROP GRUMMAN CORP /DE/.
Ann M. Fudge
Detailed
Director
Arvind Krishna
Detailed
Director
David P. Abney
Detailed
Director
Gary Roughead
Detailed
Director
James S. Turley
Detailed
Director
Kimberly A. Ross
Detailed
Director
Madeleine A. Kleiner
Detailed
Lead Independent Director
Marianne C. Brown
Detailed
Director
Mark A. Welsh III
Detailed
Director
Mary A. Winston
Detailed
Director
Thomas M. Schoewe
Director
Research analysts who have asked questions during NORTHROP GRUMMAN CORP /DE/ earnings calls.
Myles Walton
Wolfe Research, LLC
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Recent press releases and 8-K filings for NOC.
Northrop Grumman: NDAA-Compliant Drone Market Projected to Reach $21.8B by 2030
NOC
- The global military drone market was valued at $15.23 billion in 2024 and is forecast to grow to $21.81 billion by 2030, driven by NDAA compliance requirements.
- NDAA restrictions on foreign drones are spurring demand for domestically or allied-sourced military drones, supported by advances in sensors, avionics, and real-time data integration.
- North America dominated the market with a 39% share in 2024, fueled by rising use of drones for logistics, autonomous cargo, and ISR missions.
Nov 13, 2025, 1:50 PM
Northrop Grumman outlines growth strategy at Baird Global Industrial Conference
NOC
Guidance Update
New Projects/Investments
Share Buyback
- Northrop reported 5% organic growth in 2025, reiterated mid-single digit organic growth guidance for 2026, and is on track to double free cash flow by 2028.
- The company highlighted a $90 billion+ backlog, with core capabilities in missile tracking, interceptors, command and control, and solid rocket motors driving a 5% CAGR over six years.
- International sales momentum remains strong—up 32% in the latest quarter and 20% YTD—with double-digit growth expected in Europe, the Middle East, and Japan.
- Margin expansion will be driven by three pillars: operational performance recovery, digital transformation–enabled cost efficiencies, and mix shift toward international and fixed-price programs.
- Free cash flow grew 20% annually over the past three years; CapEx is expected to moderate below 4% of sales, while excess cash will fund dividends and share repurchases.
Nov 12, 2025, 2:30 PM
Northrop Grumman outlines growth, margins, and strategic priorities at Baird conference
NOC
- Achieved 5% organic growth in FY 2025, with healthy margin expansion and robust free cash flow growth; on track to double free cash flow by 2028.
- Backlog surpassed $90 billion, reflecting a 5% CAGR over six years; expects mid-single-digit organic growth in 2026 pending resolution of government shutdown.
- International business set for double-digit growth, driven by increased defense spending in Europe, the Middle East, and Japan.
- Margin improvement strategy emphasizes operational performance, enterprise-wide digital transformation, and portfolio mix shift toward fixed-price contracts and higher-margin international work.
- Strengthened solid rocket motor capacity and qualifications to support rising demand in tactical missile markets and ensure supply chain resilience.
Nov 12, 2025, 2:30 PM
Northrop Grumman outlines FY2025 performance and outlook at Baird Industrial Conference
NOC
Guidance Update
New Projects/Investments
- 5% organic growth in FY2025, robust margin expansion and strong free cash flow, with a pathway to double free cash flow by 2028.
- Backlog exceeds $90 billion, supported by missile tracking/interceptor programs, solid rocket motor capacity, and prime positions on two legs of the nuclear triad.
- International sales up 32% in Q3 and 20% year-to-date, with expectations of double-digit international growth driven by Europe, Middle East, and Japan.
- B-21 Raider program in low-rate initial production: two test aircraft flying, contracts for Lots 1–2 awarded, Lot 3 award expected this year toward a 100-aircraft program of record.
- Three-pillar margin improvement strategy—operational performance, digital transformation, and portfolio mix shift (including fixed-price and international)—driving continued margin and free cash flow growth.
Nov 12, 2025, 2:30 PM
Northrop Grumman announces CFO transition
NOC
CFO Change
Guidance Update
Management Change
- Board elected John Greene as corporate vice president and CFO effective Jan. 7, 2026; incumbent Ken Crews will step down on that date and serve in an advisory capacity through Feb. 20, 2026.
- Greene’s compensation package includes a $955,000 base salary and a $2,000,000 restricted stock sign-on grant.
- The company reaffirmed its 2025 financial guidance and 2026 outlook as previously announced on Oct. 21.
Nov 6, 2025, 10:04 PM
Northrop Grumman reports Q3 2025 results
NOC
Earnings
Guidance Update
New Projects/Investments
- Q3 sales of $10.4 B, up 4% year-over-year (organic +5%), with International sales +32% and a book-to-bill of 1.17.
- Segment operating margin reached 12.3%, driving EPS of $7.67 (+10% yoy); free cash flow was $1.3 B (+72% yoy).
- Maintained full-year free cash flow guidance of $3.05 B–$3.35 B, revised revenue guidance to $41.7 B–$41.9 B, and increased EPS guidance to $25.65–$26.05.
- Advanced the B-21 program with a second test flight, on track for LRIP Lot 3 & 5 awards, and negotiating a production rate acceleration.
Oct 21, 2025, 1:30 PM
Northrop Grumman reports Q3 2025 results
NOC
Earnings
Guidance Update
- Q3 sales of $10.4 billion, up 4% YoY (and 5% organic); Aeronautics sales grew 6% to $3.1 billion and Defense Systems sales rose 14% to $2.1 billion; Space sales were down mid-single digits at $2.7 billion.
- Segment operating margin of 12.3%, up 80 bps YoY, driving diluted EPS of $7.67, +10% YoY.
- Free cash flow of $1.3 billion, a 72% YoY increase; reaffirming full-year FCF guidance of $3.05–$3.35 billion.
- Raising full-year sales guidance to $41.7–$41.9 billion, EPS to $25.65–$26.05, while maintaining segment margin outlook; Q3 book-to-bill was 1.17, with 5% organic and 32% international growth.
Oct 21, 2025, 1:30 PM
Northrop Grumman reports Q3 2025 earnings
NOC
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Strong demand drove a Q3 book-to-bill ratio of 1.17x and receipt of a $1.8 billion missile defense award.
- Q3 organic sales grew 5% year-over-year to $10.423 billion, with segment operating margin expanding to 12.3%.
- Diluted EPS increased to $7.67 in Q3 2025, up from $7.00 in Q3 2024, driven by segment performance and marketable securities.
- Company raised 2025 guidance: sales now $41.7 – $41.9 billion and MTM-adjusted EPS to $25.65 – $26.05.
Oct 21, 2025, 1:30 PM
Northrop Grumman reports Q3 2025 results
NOC
Earnings
Guidance Update
- Sales of $10.423 billion in Q3 2025, up 4% year-over-year; organic sales grew 5%.
- Net earnings of $1.1 billion and EPS of $7.67, a 10% increase versus Q3 2024.
- Operating margin expanded to 11.9%, up 70 bps year-over-year.
- 2025 MTM-adjusted EPS guidance raised by $0.65 to $25.65–$26.05.
- Net awards totaled $12.2 billion and backlog stood at $91.4 billion.
Oct 21, 2025, 10:29 AM
Northrop Grumman highlights defense spending, program ramps and partnerships at Laguna Conference
NOC
New Projects/Investments
- In a dynamic defense environment, Northrop Grumman has invested $13 billion in R&D and CapEx over recent years amid U.S. and allied budgets poised to rise over 20% for FY 2026, significantly bolstering programs like the nuclear triad and Golden Dome.
- The Golden Dome homeland defense architecture will deploy existing regional capabilities (e.g., integrated air and missile defense, counter-UAS) in parallel with new development streams for space-based interceptors, with Gen. Gutlein leading acquisition strategy.
- Growth drivers include pending B-21 ramp-rate decisions (with expected capital outlays and incentive-based returns), a $76 million positive EAC adjustment on Sentinel’s redesign phase, and robust international demand (book-to-bill 1.4; 18% H1 growth; targeting double-digit expansion).
- Portfolio was realigned to improve lifecycle synergies (e.g., consolidating strike and sustainment under Aeronautics, merging Sentinel with Defense Systems) with limited divestitures, while leveraging its OTA leadership and unveiling Beacon, an autonomous flight testbed backed by 500,000 hours of experience to accelerate partner innovation.
Sep 11, 2025, 4:15 PM
Quarterly earnings call transcripts for NORTHROP GRUMMAN CORP /DE/.
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