NOC | Time to Start Nibbling | LONG
Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems. Its Defense Systems segment designs, develops, and produces weapons and mission systems. It offers products and services, such as integrated battle management systems, weapons systems and aircraft, and mission systems. This segment also provides command and control and weapons systems, including munitions and missiles; precision strike weapons; propulsion, such as air-breathing and hypersonic systems; gun systems and precision munitions; life cycle service and support for software, weapons systems, and aircraft; and logistics support, sustainment, operation, and modernization for air, sea, and ground systems. The company's Mission Systems segment offers cyber, command, control, communications and computers, intelligence, surveillance, and reconnaissance systems; radar, electro-optical/infrared and acoustic sensors; electronic warfare systems; advanced communications and network systems; cyber solutions; intelligence processing systems; navigation; and maritime power, propulsion, and payload launch systems. This segment also provides airborne multifunction sensors; maritime/land systems and sensors; navigation, targeting, and survivability solutions; and networked information solutions. Its Space Systems segment offers satellites and payloads; ground systems; missile defense systems and interceptors; launch vehicles and related propulsion systems; and strategic missiles. The company was founded in 1939 and is based in Falls Church, Virginia.
Yahoo Report Details:
Total Sales
In the fourth quarter of 2022, Northrop Grumman reported total sales of $10.03 billion, which surpassed the Zacks Consensus Estimate of $9.66 billion by 3.8%. Also, sales increased by 16% from the year-ago quarter’s $8.64 billion.
The upside can be attributed to strong demand, the timing of material receipts, and continued improvement in labor availability trends.
For full-year 2022, the company recorded revenues worth $36.60 billion, up 3% from 2021’s reported figure. The full-year revenues also beat the Zacks Consensus Estimate of $36.23 billion.
Our model projected net sales of $9.63 billion for the fourth quarter and $36.20 billion for 2022.
Backlog Count
Northrop Grumman’s total backlog stood at $78.70 billion at the end of the fourth quarter of 2022 compared with $79.65 billion at the end of third-quarter 2022.