Northrop Grumman 3Q profit rises, boosts forecast
LOS ANGELES — Defense contractor Northrop Grumman Corp. says its third-quarter net income edged up on contributions from its aerospace, electronics and technology businesses.
Shipbuilding was the only operating segment where profit dropped.
Northrop also raised its earnings guidance for the year.
The Los Angeles company reported net income of $497 million, or $1.67 per share, in the three months ended in September. That’s up from $490 million, or $1.53 per share, a year ago.
It says revenue rose to $8.7 billion from $8.35 billion a year ago.
Analysts were expecting earnings of $1.46 per share on revenue of $8.56 billion.
Northrop Grumman raised its full-year earnings guidance to $6.85 to $7 per share. Previously it expected $6.60 to $6.80 per share. Analysts expected earnings of $6.86 per share for the year.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Jail kitchen supervisor pleads guilty to stealing food
- Warden who lives hundreds of miles from jail resigns
- A BIG CHANGE: New mortgage rules seen bringing increase in pricey mobile home loans
- Ex-MDEQ leader Fisher joins Butler Snow
- Top 10 finalists chosen for C Spire Conerly Trophy
- State’s new banking chief Charlotte Corley has deep roots in the business
- DAVID DALLAS: Savor this Thanksgiving and be grateful
- Analyst: KiOR Columbus plant may end up sold as scrap
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- BankPlus recognized for alternative program to payday lending