Inferra AI / Company / NOC
Northrop Grumman
NOC · Industrials
Last earnings Oct 20, 2026
Key results
Net incomequarter
$1.1 billion
Third quarter 2025 net earnings totaled $1.1 billion, or $7.67 per diluted share, as compared with $1.0 billion, or $7.00 per diluted share, in the third quarter of 2024.
SEC original ↗Northrop Grumman — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Operating incomequarter
$131 million
Operating Income and Margin Rate Third quarter 2025 operating income increased $122 million, or 11 percent, primarily due to a $131 million increase in segment operating income.
SEC original ↗Northrop Grumman — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Operating marginquarter
11.9 percent
Operating margin rate increased to 11.9 percent from 11.2 percent principally due to a higher segment operating margin rate.
SEC original ↗Northrop Grumman — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Segment operating marginquarter
12.3 percent
Segment operating margin rate increased to 12.3 percent from 11.5 percent due to higher operating margin rates at Mission Systems and Defense Systems, partially offset by lower operating margin rates at Space Systems and Aeronautics Systems.
SEC original ↗Northrop Grumman — Earnings release (8-K exhibit)EX-99Oct 21, 2025
net earnings increased $74 million, or 7 percent, primarily due to the $122 million increase in operating income described above as well as a $62 million increase in returns on marketable securities
SEC original ↗Northrop Grumman — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Operating margin rate decreased to 9.7 percent from 10.4 percent, primarily due to lower net contract margin adjustments.
SEC original ↗Northrop Grumman — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Operating margin rate increased to 11.4 percent from 8.9 percent principally due to higher net EAC adjustments and changes in mix toward more fixed-price contracts.
SEC original ↗Northrop Grumman — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Operating margin rate increased to 16.7 percent from 13.8 percent, principally due to higher net EAC adjustments, including a $68 million favorable EAC adjustment in the restricted advanced microelectronics portfolio largely driven by program efficiencies and risk mitigations.
SEC original ↗Northrop Grumman — Earnings release (8-K exhibit)EX-99Oct 21, 2025
AI analysis
Q3 2025 · reported Oct 21, 2025
Based on: Earnings release + parent 8-K + 10-Q — transcript not held
Headline figures
| Metric | Q3 2025 | Prior qtr | Year ago |
|---|---|---|---|
| Net income | $1.1 billion | — | — |
| Operating income | $131 million | — | — |
| Operating margin | 11.9 percent | — | — |
| Segment operating margin | 12.3 percent | — | — |
Guidance · company-stated
“com Northrop Grumman Reports Third Quarter 2025 Financial Results Net awards increase to $12.2 billion book to bill ratio of 1.17 Sales increase 4 percent to $10.4 billion, organic sales 1 increase 5 percent Operating margin rate of 11.9 percent segment operating margin rate 1 of 12.3 percent Diluted earnings per share (EPS) increase 10 percent to $7.67 Company raises 2025 MTM-adjusted EPS guidance range by $0.65 to $25.65 to $26.05 FALLS CHURCH, Va.”
“As a result of this performance and our positive outlook for the remainder of the year, we are once again increasing our 2025 EPS guidance, said Kathy Warden, chair, chief executive officer and president.”
“We are not assuming, and the company s financial guidance and outlook for 2025 and beyond do not reflect impacts on the company from, a prolonged government shutdown, or application of spending limits or other spending cuts.”
Primary outlook statements conflict; no label forced — evidence preserved.
Margin
Capital allocation
Third quarter 2025 free cash flow 1 increased $526 million, or 72 percent, due to an increase in net cash provided by operating activities and lower capital expenditures.
Free cash flow Net cash provided by or used in operating activities less capital expenditures.
Event summary
Third quarter 2025 net earnings totaled $1.1 billion, or $7.67 per diluted share, as compared with $1.0 billion, or $7.00 per diluted share, in the third quarter of 2024
Based on: Earnings release + parent 8-K + 10-Q — transcript not held
Guidance & outlook
Revenue: “com Northrop Grumman Reports Third Quarter 2025 Financial Results Net awards increase to $12.2 billion book to bill ratio of 1.17 Sales increase 4 percent to $10.4 billion, organic sales 1 increase 5 percent Operating margin rate of 11.9 percent segment operating margin rate 1 of 12.3 percent Diluted earnings per share (EPS) increase 10 percent to $7.67 Company raises 2025 MTM-adjusted EPS guidance range by $0.65 to $25.65 to $26.05 FALLS CHURCH, Va.”
Revenue — Raised (“increase”)
“com Northrop Grumman Reports Third Quarter 2025 Financial Results Net awards increase to $12.2 billion book to bill ratio of 1.17 Sales increase 4 percent to $10.4 billion, organic sales 1 increase 5 percent Operating margin rate of 11.9 percent segment operating margin rate 1 of 12.3 percent Diluted earnings per share (EPS) increase 10 percent to $7.67 Company raises 2025 MTM-adjusted EPS guidance range by $0.65 to $25.65 to $26.05 FALLS CHURCH, Va.”
EPS — Raised (“increasing”)
“As a result of this performance and our positive outlook for the remainder of the year, we are once again increasing our 2025 EPS guidance, said Kathy Warden, chair, chief executive officer and president.”
Company outlook — Lowered (“cuts”)
“We are not assuming, and the company s financial guidance and outlook for 2025 and beyond do not reflect impacts on the company from, a prolonged government shutdown, or application of spending limits or other spending cuts.”
Primary outlook statements conflict; no label forced — evidence preserved.
Capital allocation
Third quarter 2025 free cash flow 1 increased $526 million, or 72 percent, due to an increase in net cash provided by operating activities and lower capital expenditures.
SEC original ↗Northrop Grumman — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Free cash flow Net cash provided by or used in operating activities less capital expenditures.
SEC original ↗Northrop Grumman — Earnings release (8-K exhibit)EX-99Oct 21, 2025
We use free cash flow as a key factor in our planning for, and consideration of, acquisitions, the payment of dividends and stock repurchases.
SEC original ↗Northrop Grumman — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Earnings Per Share, Share Repurchases and Dividends on Common Stock 8 3.
SEC original ↗Northrop Grumman — 10-Q Quarterly report10-QOct 20, 2026
Because the company previously intended to use the test asset for internal purposes, we recognized the acquisition costs as capital expenditures and included it in PP&E.
SEC original ↗Northrop Grumman — 10-Q Quarterly report10-QOct 20, 2026
Although we generally classify proceeds from revenue transactions as cash inflows from operating activities, we recognized the proceeds from this transaction as cash inflows from investing activities, consistent with our prior recognition of the cost to acquire the asset as capital expenditures.
SEC original ↗Northrop Grumman — 10-Q Quarterly report10-QOct 20, 2026
Strategy & priorities
Segment Operating Results Effective July 1, 2024, the company realigned the Strategic Deterrent Systems (SDS) division, which includes the Sentinel program, from Space Systems to Defense Systems.
SEC original ↗Northrop Grumman — Earnings release (8-K exhibit)EX-99Oct 21, 2025
The company s financial guidance and outlook for 2025 and beyond reflect what the company currently anticipates will be the impacts on the company from, among other factors, the global macroeconomic, security, and political budget environments, including the impacts from inflationary pressures and labor and supply chain challenges changes in the threat environment changes in government budget, appropriations and procurement priorities and processes changes in the regulatory environment, including trade policy and tax policy and changes in support for our programs.
SEC original ↗Northrop Grumman — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Words such as will, expect, anticipate, intend, may, could, should, plan, strategy, project, forecast, achieve, believe, estimate, guidance, outlook, trends, goals, confident, on track and similar expressions generally identify these forward-looking statements.
SEC original ↗Northrop Grumman — Earnings release (8-K exhibit)EX-99Oct 21, 2025
3 Realigned, effective July 1, 2024 summary operating results for periods prior to July 1, 2024 were recast to reflect the realignment of the Strategic Deterrent Systems (SDS) division from Space Systems to Defense Systems effective July 1, 2024 as described in the company s Form 8-K filed with the SEC on May 16, 2024.
SEC original ↗Northrop Grumman — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Department of Justice (DOJ) a criminal subpoena on December 9, 2022, and a civil investigative demand (CID) on February 2, 2023, both seeking information regarding financial and cost accounting and controls focused on the interest rate assumptions the company used to determine our U.
SEC original ↗Northrop Grumman — 10-Q Quarterly report10-QOct 20, 2026
Risks & headwinds
The company s financial guidance and outlook for 2025 and beyond reflect what the company currently anticipates will be the impacts on the company from, among other factors, the global macroeconomic, security, and political budget environments, including the impacts from inflationary pressures and labor and supply chain challenges changes in the threat environment changes in government budget, appropriations and procurement priorities and processes changes in the regulatory environment, including trade policy and tax policy and changes in support for our programs.
SEC original ↗Northrop Grumman — Earnings release (8-K exhibit)EX-99Oct 21, 2025
These statements are not guarantees of future performance and inherently involve a wide range of risks and uncertainties that are difficult to predict.
SEC original ↗Northrop Grumman — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Definitions for the non-GAAP measures are provided below and reconciliations are provided in the body of the release, except that reconciliations of forward-looking non-GAAP measures are not provided because the company is unable to provide such reconciliations without unreasonable effort due to the uncertainty and inherent difficulty of predicting the occurrence and financial impact of certain items, including, but not limited to, the impact of any mark-to-market pension adjustment.
SEC original ↗Northrop Grumman — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Investigations, Claims and Litigation 11 7.
SEC original ↗Northrop Grumman — 10-Q Quarterly report10-QOct 20, 2026
Legal Proceedings 37 Item 1A.
SEC original ↗Northrop Grumman — 10-Q Quarterly report10-QOct 20, 2026
Variable consideration is included in total estimated sales to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved.
SEC original ↗Northrop Grumman — 10-Q Quarterly report10-QOct 20, 2026
Competitors
Competitors & peers
Same GICS sector — classification peers, not declared competitors
Filings
65 documents- Q3 2026
- 10-QNOC
Oct 20, 2026
- 8-KNOC
Oct 20, 2026
- Q2 2026
- 8-KNOC
Aug 21, 2026
- 10-QNOC
Jul 21, 2026
- 8-KNOC
Jul 21, 2026
- Q1 2026
- 8-KNOC
May 21, 2026
- 10-QNOC
Apr 21, 2026
- 8-KNOC
Apr 21, 2026
- Q4 2025
- 8-KNOC
Feb 13, 2026
- 10-KNOC
Jan 27, 2026
- 8-KNOC
Jan 27, 2026
- Q3 2025
- 8-KNOC
Nov 6, 2025
- 10-QNOC
Oct 21, 2025
- 8-KNOC
Oct 21, 2025
- Q2 2025
- 8-KNOC
Sep 2, 2025
- 10-QNOC
Jul 22, 2025
- 8-KNOC
Jul 22, 2025
- Q1 2025
- 8-KNOC
May 29, 2025
- 8-KNOC
May 28, 2025
- EX-99NOC
May 28, 2025
- 8-KNOC
May 23, 2025
- 10-QNOC
Apr 22, 2025
- 8-KNOC
Apr 22, 2025
- Q4 2024
- 8-KNOC
Feb 19, 2025
- 10-KNOC
Jan 30, 2025
- 8-KNOC
Jan 30, 2025
- Q3 2024
- 10-QNOC
Oct 24, 2024
- 8-KNOC
Oct 24, 2024
- Q2 2024
- 8-K/ANOC
Sep 19, 2024
- 10-QNOC
Jul 25, 2024
- 8-KNOC
Jul 25, 2024
- Q1 2024
- 8-KNOC
May 16, 2024
- 8-KNOC
May 16, 2024
- 8-KNOC
Apr 25, 2024
- 10-QNOC
Apr 25, 2024
- Q4 2023
- 8-KNOC
Feb 20, 2024
- 8-KNOC
Jan 31, 2024
- 8-KNOC
Jan 30, 2024
- EX-99NOC
Jan 30, 2024
- 8-KNOC
Jan 25, 2024
- 10-KNOC
Jan 25, 2024
- Q3 2023
- 8-KNOC
Oct 26, 2023
- 10-QNOC
Oct 26, 2023
- Q2 2023
- 8-KNOC
Sep 22, 2023
- EX-99NOC
Sep 22, 2023
- 8-KNOC
Jul 27, 2023
- 10-QNOC
Jul 27, 2023
- 8-KNOC
Jul 12, 2023
- EX-99NOC
Jul 12, 2023
- Q1 2023
- 8-KNOC
May 19, 2023
- 8-KNOC
Apr 27, 2023
- 10-QNOC
Apr 27, 2023
- Q4 2022
- 8-KNOC
Mar 15, 2023
- EX-99NOC
Mar 15, 2023
- 8-KNOC
Feb 17, 2023
- 8-KNOC
Feb 8, 2023
- 8-KNOC
Feb 7, 2023
- 8-KNOC
Jan 26, 2023
- 10-KNOC
Jan 26, 2023
- Q3 2022
- 8-KNOC
Nov 17, 2022
- 8-KNOC
Oct 27, 2022
- 10-QNOC
Oct 27, 2022
- Q2 2022
- 8-KNOC
Sep 22, 2022
- 8-KNOC
Aug 23, 2022
- 10-QNOC
Jul 28, 2022
Earnings releases
20 documentsPresentations
0 documentsNo presentations for Northrop Grumman are held in this edition of the library.
Transcripts
0 documentsNo transcripts for Northrop Grumman are held in this edition of the library.
Mentioned by
9 companiesOther tracked companies whose held documents mention Northrop Grumman by name or ticker. A mention is counted once per document, from the document text the library holds.
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“2 % (775) (788) (2) % Proceeds from sale of equipment to a customer 371 — NM 371 — NM… …Northrop Grumman Reports Third Quarter 2026 Financial Results 2 Consolidated Operating Results and Cash Flows Three Months Ended September 30 Nine Months En”
“$ 7.70 $ 8.17 $ 13.86 $ 11.48 Weighted-average common shares outstanding, in millions… …Northrop Grumman Reports Second Quarter 2026 Financial Results • Net awards of $20 billion increase backlog to new company record of $105 billion • Sales increa”
“ inventory. 1 Non-GAAP measure - see definitions at the end of this earnings release. Northrop Grumman Corporation… …statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 199”
“$ 7.02 $ 6.20 $ 19.73 $ 17.07 Weighted-average common shares outstanding, in millions… …Northrop Grumman Reports Third Quarter 2024 Financial Results • Net awards of $11.7 billion; record backlog of $85 billion • Q3 sales of $10.0 billion; year to ”
“orate strategy and mergers and acquisitions leadership experience at a key defense prime, Northrop Grumman, and will be critical to our efforts… …continue to execute on our VISION 2027 Strategy. Mark has extensive engineering, corporate strategy and ”
“ficer, and President of its Space Technology business. Prior to the acquisition of TRW by Northrop Grumman, Bush also served as President and Chief Executive Officer for Aeronautical…”
“areas when required. Geological logging… … Figure 18-4 Water NOC Location Plan 257 Figure 18-5 Basic Flow Diagram Outlining Main Flows and Planned Water Infrastructure 260 Figure 18-6 … … ”
“nce, and defense electronic systems. Prior to this, Ms. Kale held leadership positions at Northrop Grumman… …his executive team. Throughout 2023, they enhanced our competitive presence in key markets, grew our hyperscaler portfolio and drove growth i”
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