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Investing.com -- Northrop Grumman Corporation (NYSE:NOC) on Thursday reported fourth quarter 2024 earnings that slightly exceeded analyst expectations, while revenue fell short of estimates.
The defense contractor also provided guidance for fiscal year 2025 that was largely in line with Wall Street projections.
Northrop Grumman posted adjusted earnings per share of $6.39 for Q4, beating the analyst consensus of $6.34 by $0.05. Revenue for the quarter came in at $10.69 billion, missing the $10.96 billion estimate.
For the full year 2024, the company reported sales of $41.0 billion, up 4.4% YoY. Net earnings totaled $4.2 billion, or $28.34 per diluted share. Excluding mark-to-market adjustments, 2024 adjusted earnings were $26.08 per share.
Northrop Grumman’s backlog rose to a record $91.5 billion, with a book-to-bill ratio of 1.23 for the year.
Looking ahead, the company expects 2025 earnings per share between $27.85 and $28.25, compared to the $28.06 analyst consensus. Revenue is projected at $42-42.5 billion, slightly below the $42.8 billion consensus estimate.
"Strong 2024 financial results met or exceeded our company-level financial guidance," said Kathy Warden, chair, chief executive officer and president. "We enter 2025 with continued momentum for organic sales growth, margin expansion, and double digit free cash flow growth."
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