Northrop Grumman Raises Earnings Guidance - Quick Facts

(RTTNews) - Northrop Grumman Corp. (NOC) said its second-quarter net earnings increased $72 million year-on-year primarily due to higher operating income and a lower effective tax rate. Looking forward, the company increased its 2019 MTM-adjusted EPS guidance.

For 2019, the company now expects MTM-adjusted EPS in a range of $19.30 to $19.55, up from previous guidance range of $18.90 to $19.30. Analysts polled by Thomson Reuters expect the company to report profit per share of $19.37. Analysts' estimates typically exclude special items.

For the second-quarter, earnings per share increased 12 percent to $5.06 from $4.50, prior year. On average, 18 analysts expected the company to report profit per share of $4.68 for the quarter.

Second quarter sales increased 19 percent to $8.5 billion, primarily due to the addition of a full quarter of Innovation Systems sales as well as higher sales at Mission Systems and Aerospace Systems. Analysts expected revenue of $8.42 billion for the quarter.