Sales Up, Earnings Down In Northrop Grumman's Third Quarter; Raises Earnings Outlook

摘要

Northrop Grumman [NOC] on Thursday posted mixed financial results in its third quarter withsales up but earnings down.Still, the company increased its adjusted earnings guidance for 2019, due to better segmentoperating margin, lower interest expense, and a lower tax rate.Net income in the quarter tumbled 25 percent to $933 million, $5.49 earnings per share (EPS),from $1.2 billion ($7.11 EPS) a year ago, two pennies above consensus per share estimates.Lower segment operating earnings, reduced pension benefits, and a substantial gain from asettlement a year ago were the primary contributors to the income drop.