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
JG
John Greene
Detailed
Chief Financial Officer
RJ
Robert J. Fleming
Detailed
Corporate Vice President and President, Space Systems
RS
Roshan S. Roeder
Detailed
Corporate Vice President and President, Mission Systems
TH
Thomas H. Jones
Detailed
Corporate Vice President and President, Aeronautics Systems
Board of directors at NORTHROP GRUMMAN CORP /DE/.
AM
Ann M. Fudge
Detailed
Director
AK
Arvind Krishna
Detailed
Director
DP
David P. Abney
Detailed
Director
GR
Gary Roughead
Detailed
Director
JS
James S. Turley
Detailed
Director
KA
Kimberly A. Ross
Detailed
Director
MA
Madeleine A. Kleiner
Detailed
Lead Independent Director
MC
Marianne C. Brown
Detailed
Director
MA
Mark A. Welsh III
Detailed
Director
MA
Mary A. Winston
Detailed
Director
TM
Thomas M. Schoewe
Director
Research analysts who have asked questions during NORTHROP GRUMMAN CORP /DE/ earnings calls.
RE
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Recent press releases and 8-K filings for NOC.
Northrop Grumman reports Q4 2025 results
NOC
Earnings
Guidance Update
- Q4 organic sales rose 10% to $11.712 billion, led by Aeronautics Systems (+18%) and Mission Systems (+10%) growth¹
- Q4 segment operating income increased 10% to $1.313 billion, reflecting broad‐based portfolio strength²
- Full-year 2025 organic sales were $42.0 billion (+3%) and free cash flow reached $3.3 billion¹
- Record year-end backlog of $95.7 billion, up from $91.5 billion in 2024¹
- 2026 guidance: sales $43.5–44.0 billion, segment operating income $4.85–5.00 billion, MTM-adjusted EPS $27.40–27.90, free cash flow $3.1–3.5 billion²
Jan 27, 2026, 2:30 PM
Northrop Grumman reports Q4 2025 results
NOC
Earnings
Guidance Update
CFO Change
- Fourth-quarter sales of $11.7 billion, up 10% year-over-year, and full-year sales of $42 billion (+3% organically).
- Record backlog of over $95 billion, driven by $46 billion in 2025 net awards and a five-year book-to-bill of 1.1×.
- Free cash flow of $3.3 billion, a 26% increase from 2024, marking the third consecutive year of ≥25% growth.
- 2026 guidance: sales of $43.5–$44 billion, adjusted EPS of $27.40–$27.90, free cash flow of $3.1–$3.5 billion, and capex of $1.65 billion.
- Management change: John Green joined as CFO, succeeding Ken Crews this month.
Jan 27, 2026, 2:30 PM
Northrop Grumman provides Q4 2025 earnings overview
NOC
Earnings
Guidance Update
CFO Change
- 2026 guidance: Sales of $43.5 – $44 billion; segment operating income of $4.85 – $5 billion (mid-11% margin); adjusted EPS of $27.40 – $27.90; free cash flow of $3.1 – $3.5 billion; and CapEx of $1.65 billion (~4% of sales).
- Munitions capacity expansions: Since 2021, doubled tactical solid rocket motor production at the ABL facility and advancing to 3× capacity by early 2027; Elkton, MD site to 3× capacity by 2030.
- CFO transition: John Green joined as CFO in January 2026, succeeding Ken Crews following a smooth transition.
- 2025 momentum: International sales grew 20% and the company delivered its highest quarterly sales growth in Q4 2025, exceeding expectations across key metrics.
Jan 27, 2026, 2:30 PM
Northrop Grumman reports Q4 and full‐year 2025 results
NOC
Earnings
Guidance Update
Management Change
- Northrop Grumman closed FY2025 with a record backlog of over $95 billion, driven by $46 billion in net awards and a five-year average book-to-bill of 1.1x.
- FY2025 sales and EPS beat the high end of guidance, and the company generated $3.3 billion in free cash flow, up 26% year-over-year.
- For 2026, management issued guidance for sales of $43.5 – 44 billion, adjusted EPS of $27.40 – 27.90, and free cash flow of $3.1 – 3.5 billion, reflecting mid-single-digit growth.
- The portfolio is positioned for broad-based growth across all four segments, led by Digital Systems and Space (projected at ~$11 billion), underpinned by capacity and technology investments.
- Leadership transitioned as CEO Ken held his final earnings call after 22 years, with John assuming the role and emphasizing strategic acceleration.
Jan 27, 2026, 2:30 PM
Northrop Grumman reports Q4 and full-year 2025 results
NOC
Earnings
Guidance Update
- Q4 sales rose 10% to $11.7 B, with full-year 2025 sales of $42.0 B, up 2% year-over-year.
- Q4 operating income increased 17% to $1.3 B, delivering a 10.9% margin; 2025 diluted EPS was $29.08.
- Operating cash flow for 2025 was $4.8 B, and free cash flow reached $3.3 B.
- Backlog expanded to a record $95.7 B at year-end, driven by robust awards across programs.
- For 2026, the company guides to sales of $43.5–44.0 B, MTM-adjusted EPS of $27.40–27.90, and free cash flow of $3.1–3.5 B.
Jan 27, 2026, 11:44 AM
Northrop Grumman reports Q4 2025 earnings, issues softer 2026 outlook
NOC
Earnings
Guidance Update
- Q4 net income rose to $1.427 billion ($9.99/share) with adjusted EPS of $7.23 and revenue up 9.6% to $11.712 billion.
- Free cash flow surged about 84% to $3.24 billion, and operating income of $1.27 billion beat estimates.
- Record backlog reached $95.7 billion amid F-35 and Virginia-class awards, but fiscal 2026 guidance of $43.5–44.0 billion in sales and $27.40–27.90 EPS fell below Street expectations.
Jan 26, 2026, 2:58 PM
Northrop Grumman among leaders in Space-Based C4ISR Market Report 2026
NOC
- The space-based C4ISR market grew from $3.16 Billion in 2025 to $3.4 Billion in 2026 at a 7.5% CAGR.
- It is forecast to reach $4.49 Billion by 2030 at a 7.2% CAGR.
- Growth is driven by expansion of satellite constellations, secure military satellite communications, ground antenna installations, encryption devices, and advanced sensor payloads.
- Integration of AI-driven analytics for satellite intelligence and deployment of small-satellite networks are key trends, with North America as the largest market and Asia-Pacific the fastest-growing region.
- Industry consolidation is highlighted by BAE Systems’ $5.56 Billion acquisition of Ball Aerospace in 2024, strengthening space-based C4ISR capabilities.
Jan 14, 2026, 3:56 PM
Northrop Grumman shares rise after Trump’s $1.5 trillion defense budget proposal
NOC
- After President Trump called for a $1.5 trillion U.S. defense budget for 2027, global defense stocks surged, with Northrop Grumman shares up about 8.3% in early trading.
- The rally was driven by investor optimism on higher defense spending, though significant uncertainty remains over congressional approval and final budget details.
- The aerospace & defense index reached an all-time high after gaining roughly 57% over the prior year.
Jan 8, 2026, 10:20 AM
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
Quarterly earnings call transcripts for NORTHROP GRUMMAN CORP /DE/.
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