Northrop Grumman Boost FY20 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Thursday, Northrop Grumman Corp. (NOC) raised its adjusted earnings and sales guidance for the full year 2020, based on year-to-date performance and its most current outlook for the remainder of the year.

For fiscal 2020, the company now projects MTM-adjusted earnings in a range of $22.00 to $22.40 per share on sales between $35.30 billion and $35.60 billion. Previously, the company expected MTM-adjusted earnings in the range of $21.80 to $22.20 per share on sales between $35.00 billion and $35.40 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $22.14 per share on revenues of $35.19 billion for the year. Analysts' estimates typically exclude special items.

The company said its 2020 financial guidance reflects the impacts experienced to date from the global COVID-19 pandemic, and what the company currently anticipates to be the impacts on the company for the remainder of the year.