Northrop Grumman: 4Q Earnings Snapshot
FALLS CHURCH, Va. (AP) _ Northrop Grumman Corp. (NOC) on Thursday reported fourth-quarter earnings of $356 million.
On a per-share basis, the Falls Church, Virginia-based company said it had profit of $2.06. Earnings, adjusted for non-recurring costs, were $4.93 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $4.45 per share.
The defense contractor posted revenue of $8.16 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $8.11 billion.
For the year, the company reported profit of $3.23 billion, or $18.49 per share. Revenue was reported as $30.1 billion.
Northrop Grumman expects full-year earnings in the range of $18.50 to $19 per share, with revenue expected to be $34 billion.
Northrop Grumman shares have climbed 15 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased roughly 7 percent. The stock has decreased 17 percent in the last 12 months.