Northrop Grumman's Q3 2024 earnings surged 13%, driven by strong demand for defense and aeronautics systems.
Sectors & Industries
October 25, 2024
Northrop Grumman, a leading aerospace and defense contractor specializing in advanced technology systems for the U.S. military and global allies, reported a 13% surge in Q3 2024 earnings. EPS hit $7.00, surpassing expectations of $6.07. The defense giant reported $10 billion in revenue, just shy of estimates. Strong demand across its aeronautics, defense, and mission systems segments led to this growth, pushing net earnings up 9% to $1 billion.
The company’s operating margin improved to 11.2%, compared to 10.4% last year. Northrop Grumman continues to solidify its position as a leader in defense technology, with a record $85 billion backlog, reflecting future demand for its systems.
Notably, Northrop Grumman’s B-2 stealth bombers, developed by the company, have been deployed in secret military operations, including a strike on Houthi targets in Yemen. These missions further highlight the company’s advanced capabilities in global defense.
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