NYSE$NOC
Northrop Grumman Corp · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Northrop Grumman's Q3 2024 financial results were reported, featuring increased sales and earnings per share.
Northrop Grumman reported a 2% increase in sales to $10.0 billion for Q3 2024 compared to $9.8 billion in Q3 2023. Net earnings increased to $1.0 billion, or $7.00 per diluted share, from $937 million, or $6.18 per diluted share, in the same period last year. The company also raised its 2024 segment operating income and MTM-adjusted EPS guidance.
- Net awards totaled $11.7 billion, leading to a record backlog of $85 billion.
- Q3 sales reached $10.0 billion, with year-to-date sales up by 6 percent.
- Operating margin rate was 11.2 percent, and the segment operating margin rate was 11.5 percent.
- Diluted earnings per share increased by 13 percent to $7.00.
Headline financials
Revenue & EPS history
Northrop Grumman · Revenue · Quarterly
$10B
Revenue by segment
Northrop Grumman · $10.3B total across 4 segments · Q3 2023
- Space Systems$3.51B+10.8%34.0%
- Aeronautics Systems$2.77B+9.0%26.8%
- Mission Systems$2.63B+7.0%25.5%
- Defense Systems$1.42B+5.7%13.8%
Forward guidance
Northrop Grumman raised the lower end of its 2024 segment operating income guidance and increased MTM-adjusted EPS guidance by 75 cents to $25.65 - $26.05.
Tailwinds
- Sales are expected to be between $41.0 billion and $41.4 billion.
- Segment operating income is projected to be between $4.525 billion and $4.575 billion.
- MTM-adjusted EPS is guided to be in the range of $25.65 to $26.05.
- Free cash flow is estimated to be between $2.25 billion and $2.65 billion.
- Aeronautics Systems sales are expected to be around $12 billion with an operating margin rate of approximately 10%.
Headwinds
- Defense Systems sales are expected to be high $8 billion with an operating margin rate of approximately 10%.
- Mission Systems sales are expected to be mid $11 billion with a high 13% operating margin rate.
- Space Systems sales are expected to be mid to high $11 billion with a mid to high 10% operating margin rate.
- Intersegment Eliminations are expected to be around ~$2.7 billion with a low 13% operating margin rate.
- Guidance does not reflect impacts from any potential continuing resolution, government shutdown, or application of spending limits or other spending cuts.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-0.2%
Avg return
Earnings day
-0.9%
Avg return
5 days after
+0.3%
Avg return
30 days after
59%
43 / 73 earnings
Positive
+9.5%
Q2 2019
Best reaction
-12.7%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -6.0% | -12.5% | -16.4% | |
| Q4 2025 | +2.7% | +4.7% | +7.6% | |
| Q3 2025 | -0.4% | +0.6% | -5.8% | |
| Q2 2025 | +0.3% | +0.7% | -1.1% | |
| Q1 2025 | -12.7% | -10.9% | -11.0% | |
| Q4 2024 | +0.4% | +0.2% | -4.1% | |
| Q3 2024 | +0.6% | -2.4% | -3.8% | |
| Q2 2024 | +8.6% | +10.1% | +15.2% | |
| Q1 2024 | +1.2% | +2.2% | -1.7% | |
| Q4 2023 | -5.6% | -4.4% | -0.6% | |
| Q3 2023 | -2.1% | -2.4% | -2.4% | |
| Q2 2023 | -1.6% | -2.0% | -6.0% | |
| Q1 2023 | +2.7% | -0.1% | -2.4% | |
| Q4 2022 | -5.5% | -3.3% | +1.6% | |
| Q3 2022 | +3.2% | +0.9% | -0.6% | |
| Q2 2022 | +7.4% | +7.9% | +8.8% | |
| Q1 2022 | -0.1% | +2.6% | +7.0% | |
| Q4 2021 | -5.7% | -8.1% | +1.6% | |
| Q3 2021 | -8.0% | -9.0% | -8.8% | |
| Q2 2021 | +0.8% | +1.2% | +1.3% | |
| Q1 2021 | +4.7% | +8.8% | +8.1% | |
| Q4 2020 | -1.9% | +2.7% | -0.2% | |
| Q3 2020 | +0.0% | -2.0% | -0.6% | |
| Q2 2020 | +3.1% | +3.1% | +9.4% | |
| Q1 2020 | -4.0% | -6.4% | -2.7% | |
| Q4 2019 | -2.1% | -5.4% | -14.1% | |
| Q3 2019 | -2.3% | -1.7% | -1.1% | |
| Q2 2019 | +9.5% | +9.7% | +11.6% | |
| Q1 2019 | -4.6% | -2.3% | +6.7% | |
| Q4 2018 | -2.8% | -0.8% | +2.2% | |
| Q3 2018 | -11.2% | -15.7% | -12.3% | |
| Q2 2018 | -6.6% | -6.7% | -5.7% | |
| Q1 2018 | -2.2% | -5.7% | -2.8% | |
| Q4 2017 | +7.1% | +8.3% | +12.1% | |
| Q3 2017 | +1.3% | +0.8% | +3.0% | |
| Q2 2017 | -1.2% | -0.3% | +2.0% | |
| Q1 2017 | +0.1% | -1.5% | +3.6% | |
| Q4 2016 | -0.4% | -0.8% | +6.2% | |
| Q3 2016 | +2.7% | +4.3% | +13.2% | |
| Q2 2016 | -0.5% | -0.8% | -2.9% | |
| Q1 2016 | +1.0% | — | — | |
| Q4 2015 | +3.9% | — | — | |
| Q3 2015 | +5.2% | — | — | |
| Q2 2015 | +7.4% | — | — | |
| Q1 2015 | -4.0% | — | — | |
| Q4 2014 | +3.1% | — | — | |
| Q3 2014 | +2.4% | — | — | |
| Q2 2014 | +1.1% | — | — | |
| Q1 2014 | -0.5% | — | — | |
| Q4 2013 | +3.1% | — | — | |
| Q3 2013 | +5.9% | — | — | |
| Q2 2013 | +1.9% | — | — | |
| Q1 2013 | +4.2% | — | — | |
| Q4 2012 | -2.6% | — | — | |
| Q3 2012 | -0.9% | — | — | |
| Q2 2012 | +1.0% | — | — | |
| Q1 2012 | +1.1% | — | — | |
| Q4 2011 | +0.6% | — | — | |
| Q3 2011 | +1.9% | — | — | |
| Q4 2010 | +1.9% | — | — | |
| Q2 2011 | -7.2% | — | — | |
| Q1 2011 | +1.2% | — | — | |
| Q3 2010 | +1.4% | — | — | |
| Q2 2010 | +0.4% | — | — | |
| Q1 2009 | +3.3% | — | — | |
| Q1 2010 | +0.8% | — | — | |
| Q4 2007 | +1.0% | — | — | |
| Q4 2009 | +1.0% | — | — | |
| Q3 2008 | +0.4% | — | — | |
| Q3 2009 | +0.4% | — | — | |
| Q2 2009 | -6.9% | — | — | |
| Q2 2008 | -6.9% | — | — | |
| Q4 2008 | -6.9% | — | — |
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