Thu, Oct 24, 8:08 PM (69 days ago)
Northrop Grumman Corporation (NOC) reported a solid Q3 2024, with sales rising to $9,996 million, a 2% increase from Q3 2023, driven by growth in Aeronautics, Defense, and Mission Systems. Operating income improved by 10% to $1,120 million, yielding an operating margin of 11.2%, up from 10.4% the previous year. Net earnings increased to $1,026 million, or $7.00 per diluted share, reflecting a 9% rise year-over-year. The effective tax rate decreased to 13.6%, benefiting from reduced tax reserves. Cash flow from operations totaled $1,810 million, up 25%, with free cash flow reaching $859 million, an 82% increase. The backlog stood at $84.8 billion, indicating robust future revenue potential. Challenges remain, including geopolitical tensions and inflation impacting costs and government spending. The company continues to navigate these uncertainties while leveraging its strong position in the defense sector to sustain growth.