Northrop Grumman Lowers Full-Year Sales View After Mixed Quarter

Northrop Grumman revised its full-year sales guidance downward to between $41.7 billion and $41.9 billion due to lower expected revenue in its aeronautics-systems segment, while raising its adjusted earnings per share forecast to between $25.65 and $26.05. The company reported third-quarter revenue growth of 4.3% to $10.42 billion, though this fell short of analysts' expectations, with sales in aeronautics rising 6% but operating income in that segment declining 1%. Defense- and mission-systems sales contributed to overall revenue growth, increasing 14% and 10%, respectively, while space-systems revenue dropped 6% due to program wind-downs. Despite the mixed results and lowered sales outlook, Northrop posted a third-quarter profit of $1.1 billion, or $7.67 per share, exceeding expectations. Other market activity included a 1.03% decline in NRG Energy shares amid a broadly positive stock market, while additional data on Freeport-McMoRan and Northrop Grumman stock performance was noted without significant developments.