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An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

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Gain on sale of business

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Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

Outstanding Shares

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Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

Revenue Multiple

Northrop Grumman

Northrop Grumman Corp. engages in the provision of advanced aircraft systems. It operates through the following segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment is involved in the design, development, production, integration, sustainment, and modernization of advanced aircraft systems for the U.S. Air Force, the U.S. Navy, other U.S. government agencies, and international customers. The Defense Systems segment includes integrated battle management systems, weapons systems and aircraft, and mission systems sustainment and modernization. The Mission Systems segment offers advanced mission solutions and multifunction systems, primarily for the U.S. defense and intelligence community, and international customers. The Space Systems segment delivers end-to-end mission solutions through the design, development, integration, production and operation of space, missile defense, launch and strategic missile systems for national security, civil government, commercial, and international customers. The company was founded by John K. Northrop, Thomas V. Jones, and Kent Kresa in 1939 and is headquartered in Falls Church, VA.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

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Earnings data Q1 2023

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Earnings data Q1 2024

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Earnings data Q4 2024

Northrop Grumman reports robust Q4 performance and eyes international growth

Northrop Grumman's Q4 2022 earnings call highlighted strong performance, notable achievements, and optimistic growth expectations for 2023. Despite challenges like inflationary pressures and upfront investments impacting free cash flow, the company remains focused on delivering value to shareholders and capitalizing on international opportunities for growth.

Northrop Grumman reports strong Q1 earnings, eyes international growth

Northrop Grumman's Q1 performance showed sales growth and strong earnings, with a positive outlook for the future.
The company's focus on investments in weapons portfolio capacity, hypersonic technology, and space exploration positions it for continued success.
Challenges in the defense sector are being addressed through competitive strategies and a shift towards fixed price contracts.
Opportunities in international markets, missile defense capabilities, and strategic partnerships offer avenues for future growth and expansion.

Northrop Grumman excels in Q2, eyes margin expansion in 2024

Northrop Grumman's Q2 performance reflects strong sales growth and operational efficiency enhancements, underpinned by a proactive approach to challenges and a focus on margin expansion.
The company's strategic capital deployment and growth opportunities in the Space segment position it well for sustained success and shareholder value creation.
Anticipated margin expansion in 2024, alongside disciplined cost management and market tailwinds, bode well for Northrop Grumman's future growth trajectory.

Northrop Grumman reports robust Q3 results, eyes international growth opportunities

Northrop Grumman's Q3 performance reflects financial strength and operational excellence, driven by robust sales growth, profitability, and cash flow generation. While facing challenges in meeting increased demand and navigating tax implications, the company is well-positioned to capitalize on international growth opportunities and maintain its competitive edge in the defense sector.

Northrop Grumman exceeds revenue expectations, addresses B-21 program challenges

Northrop Grumman delivered strong financial performance in 2023, surpassing revenue guidance and demonstrating operational resilience. While facing challenges in the B-21 program, the company remains focused on driving growth, improving margins, and enhancing shareholder value through strategic investments and disciplined decision-making.

Northrop Grumman reports robust Q1 performance and eyes global growth

Northrop Grumman's Q1 performance showcased strong sales growth, margin improvement, and operational efficiency.
The company's focus on global demand, investments in technology, and capital deployment strategy position it for continued success.
Challenges include program timing issues and supply chain concerns, but opportunities in defense technologies and international markets offer growth potential.
Overall, Northrop Grumman's strategic initiatives and financial performance in Q1 2024 indicate a positive outlook for the year.

Northrop Grumman excels in Q2 2024, eyes international growth

Northrop Grumman's Q2 2024 performance reflects robust financial metrics, strategic portfolio alignment with defense priorities, and a focus on sustainable growth. Despite potential challenges in international markets and evolving defense landscapes, the company's strong operational performance and investment strategies signal resilience and growth potential.

Northrop Grumman's Q3 performance reflects operational strength, profitability, and strategic positioning for future growth.
The company's focus on margin expansion, program execution, and international sales growth underscores its commitment to sustained success.
While challenges persist in a competitive landscape, Northrop Grumman remains optimistic about capitalizing on opportunities for growth and performance.

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Subscribers to  Chart of the Week  received this commentary on Sunday, September 1.

Defense Sector: Overbought or Resilient?

Northrop Grumman is poised to benefit from rising global defense spending, driven by geopolitical instability and increased military budgets in NATO countries. NOC's strong Q2 results, including a 7% revenue increase and 80% growth in free cash flow, highlight its robust financial performance. The company's expanding order book and potential strategic acquisitions in cybersecurity and space position it for sustained revenue and profit growth.

Growing Cash Flows, Strong Defense Demand Position Northrop Grumman For Long-Term Success

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Aerospace and defense giant Northrop Grumman has raised its dividends annually for 21 consecutive years. Cybersecurity specialist Cloudflare is growing revenue in tandem with an increased demand for its security services.

The Best Stocks to Invest $50,000 In Right Now

We believe that Northrop Grumman stock is currently a better pick than its industry peer – Lockheed Martin stock (NYSE: LMT), given its better valuation and robust prospects. NOC stock trades at a slightly higher multiple of 1.9x trailing revenues, versus 1.7x for LMT.

Should You Pick Northrop Grumman Over Lockheed Martin?

Northrop Grumman Q2 earnings show modest margin expansion, with 10% revenue growth and 5% segment operating income growth. Northrop Grumman increases full-year earnings guidance, with sales and segment operating income guidance raised. Despite premium valuation, Northrop Grumman stock is a buy based on the global threat environment and long-term profitability prospects.

Northrop Grumman: Why I Believe The Stock Is A Buy And Worth $547

FALLS CHURCH, Va., Aug. 21, 2024 (GLOBE NEWSWIRE) -- The board of directors of Northrop Grumman Corporation (NYSE: NOC) declared a quarterly dividend of $2.06 per share on Northrop Grumman common stock, payable September 18, 2024, to shareholders of record as of the close of business September 3, 2024.

Northrop Grumman Board Declares Quarterly Dividend

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Defense stocks have been on a tear in recent months, with many names hitting new all-time highs. The ongoing highly volatile geopolitical environment is primarily driving this surge.

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Now that we are nearing the end of 2024, investors may be certainly looking to revamp their portfolios.

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The geopolitical environment is escalating as reports emerge that Ukraine has launched a widespread land attack on Russia. With that in mind, investors can seek refuge in defense juggernauts like Northrop Grumman.

Geopolitics Escalate as Investors Seek Refuge in Defense Industry

Northrop Grumman showed strong sales and tremendous profits last quarter. The company's 1.5 book-to-bill ratio suggests growth will keep coming in the near term.

Northrop Grumman Dominates Defense Spending. Is the Stock a Buy?

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Northrop Grumman Corporation (NOC) Hit a 52 Week High, Can the Run Continue?

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Although the majority of assets in the stock market are crashing, certain defense stocks are doing the exact opposite – rallying amid the rising geopolitical tensions that have seen new war fronts arise or threaten to appear in multiple regions as the now already ‘old' wars continue raging.

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Here is how Northrop Grumman (NOC) and RTX (RTX) have performed compared to their sector so far this year.

Is Northrop Grumman (NOC) Outperforming Other Aerospace Stocks This Year?

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Northrop shares soared higher thanks to a strong second-quarter performance. The company also provided some much-needed clarity on its B-21 bomber contract.

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Betting Big On Defense: Northrop Grumman Is Back

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News for Northrop Grumman Stock (NOC)