Northrop Grumman Corporation: Mixed — EPS $7.89, Revenue $11.12B
Mixed ResultQ3 2026 · Pre-market
@trystockwhiz
Did Northrop Grumman Corporation (NOC) beat earnings today?
It was a mixed report for Q3 2026 — Northrop Grumman Corporation (NOC) beat on EPS but missed on revenue.
Earnings Per Share+9.58% surprise
$7.89Actual
Expected: $7.20
vs. year ago +3.0%
Total Revenue-0.07% surprise
$11.12BActual
Expected: $11.13B
vs. year ago +7.0%
Released Oct 20 · 6:32 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $11.12B | $10.42B | +7.0% |
| Revenue detail — reported lines | |||
| └─Product | $9.10B | $8.37B | +8.7% |
| └─Service | $2.02B | $2.05B | -1.5% |
| └─Aeronautics Systems | $3.58B | $3.14B | +14.0% |
| └─Defense Systems | $2.31B | $2.06B | +12.0% |
| └─Mission Systems | $3.15B | $3.09B | +2.0% |
| └─Space Systems | $2.75B | $2.70B | +2.0% |
| GAAP Basic EPS | $7.91 | $7.69 | +2.9% |
| GAAP Diluted EPS | $7.89 | $7.67 | +3.0% |
| Net earnings | $1.12B | $1.10B | +2.0% |
Financial Outlook / Guidance
| Metric | Next Quarter Outlook | 2026 Guidance |
|---|---|---|
| Sales | — | $43,750-$44,250M |
| Segment operating income | — | $4,940-$5,040M (prev. $4,850-$5,000M) |
| MTM-adjusted EPS | — | $29.35-$29.75 (prev. $28.60-$29.10) |
| Adjusted free cash flow | — | $3,100-$3,500M |
| Aeronautics Systems Sales | — | ~$14B |
| Aeronautics Systems OM Rate | — | High 9% (prev. Mid to High 9%) |
| Defense Systems Sales | — | Mid to High $8B |
| Defense Systems OM Rate | — | ~10% |
| Mission Systems Sales | — | High $12B |
| Mission Systems OM Rate | — | Mid 15% (prev. ~15%) |
| Space Systems Sales | — | ~$11B |
| Space Systems OM Rate | — | Low 10% |
| Intersegment Eliminations Sales | — | ~($2.7B) |
| Intersegment Eliminations OM Rate | — | Mid 13% |
Business Highlights
- ➤Reported a 1.5x book-to-bill ratio and $16.4B in net awards.
- ➤Backlog reached $109.6B at September 30, 2026.
- ➤Won $4.6B in restricted-program awards across Aeronautics, Space and Mission Systems.
- ➤Received a $2.0B Sentinel award.
- ➤Received a $1.4B Virginia Class submarines award.
- ➤Received a $1.3B F-35 award at Aeronautics Systems.
- ➤Received a $1.0B E-2 award.
- ➤Expanded F-35 sustainment volume and advanced B-21 and B-2 sustainment work.
- ➤Sentinel continued to ramp during the quarter.
- ➤Ramp-up continued on restricted airborne radar and restricted space portfolio programs.
Management Commentary
Kathy Warden, chair, chief executive officer and president
“In a complex world with the growing need for solutions that scale and perform, our customers continue to turn to Northrop Grumman, and we are delivering with urgency and innovation. Our investments provide the capacity necessary to deliver durable growth as we expand our product offerings and scale our operations. I’m confident our new record backlog, well-positioned portfolio and investments, and industry-leading performance will continue to drive sales and earnings growth as reflected in our 2027 outlook.”