Thu, Jul 25, 8:04 PM (44 days ago)
Northrop Grumman Corporation's Q2 2024 financial report indicates solid performance and growth across all segments. Key highlights include a 7% increase in sales to $10.2 billion and a 13% rise in operating income to $1.1 billion compared to Q2 2023. The operating margin improved to 10.7% from 10.1%, driven by higher segment operating income and lower unallocated corporate expenses. Net earnings rose 16% to $940 million, with diluted earnings per share up 19% to $6.36, benefiting from increased net earnings and reduced share count. Cash flow from operations improved significantly, up $502 million year-to-date, driven by higher net earnings and better working capital management. The company maintained a strong cash position with $3.3 billion in cash and equivalents. Notably, Northrop Grumman's backlog stood at $83.1 billion, reflecting strong demand for its products and services, particularly in the Aeronautics and Space Systems segments. The company continues to navigate macroeconomic challenges, including inflationary pressures and supply chain disruptions, while focusing on long-term growth and profitability.