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Northrup Grumman Earnings: NOC Stock Heads Higher on Q2 Beat, Guidance

Northrup Grumman earnings for the second quarter of the year have NOC stock on its way up Wednesday.

Northrup Grumman Earnings: NOC Stock Heads Higher on Q2 Beat, Guidance

Source: Shutterstock

Northrup Grumman (NYSE:NOC) reported earnings per share of $5.06 for the second quarter of 2019. This is an increase over the company’s earnings per share of $4.50 from the same period of the year prior. It was also a blessing to NOC stock by coming in above Wall Street’s earnings per share estimate of $4.68 for the quarter.

The Northrup Grumman earnings report for the second quarter of the year also includes net income of $861 million. That’s better than the company’s net income of $789 million reported in the second quarter of 2018.

Northrup Grumman earnings for the second quarter of 2019 also includes operating income of $946 million. This is up from the company’s operating income of $817 million reported during the same time last year.

Revenue reported in the Northrup Grumman earnings release for the second quarter of the year comes in at $8.46 billion. This is an improvement over the aerospace and defense company’s revenue of $7.12 billion reported in the second quarter of the previous year. It was also lifting NOC stock today by beating out analysts’ revenue estimate of $8.42 billion for the period.

The most recent Northrup Grumman earnings report also has it updating its guidance for 2019. The company now expects earnings per share between $19.30 and $19.55. The previous outlook was for earnings per share ranging from $18.90 to $19.30. Wall Street is looking for earnings per share of $19.37 for the year.

NOC stock was up 4% as of Wednesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/07/northrup-grumman-earnings-boost-noc-stock/.

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