Falls Church, VA-based aerospace and defense operator Northrop Grumman CorporationNOC supplies a broad array of products and services to the U.S. Department of Defense, including electronic systems, information technology, aircraft, space technology and systems integration services.
Northrop Grumman has surpassed the Zacks Consensus Estimate in the last four quarters, resulting in a positive average surprise of 12.60%.
Zacks Rank : Currently, Northrop Grumman Corporation has a Zacks Rank# 2 (Buy) but that could change following its third quarter 2017 earnings report which has just released. You can see the complete list of today's Zacks #1 (Strong Buy) Rank stocks here .
We have highlighted some of the key details from the just-released announcement below:
Earnings : Northrop Grumman comfortably surpassed earnings estimates. Adjusted earnings per share came in at $3.68 compared to the Zacks Consensus Estimate of $2.92.
Northrop Grumman Corporation Price and EPS Surprise
Revenue : Revenues of $6.53 billion also exceeded the Zacks Consensus Estimate of $6.32 billion.
Key Stats : Northrop Grumman's cash flow from operating activities totaled $938 million in the third quarter of 2017 compared to $738 million in the third quarter of 2016.
For 2017, the company has raised its financial guidance. It currently expects to generate sales of more than $25 billion, compared to earlier guidance of less than $25 billion. On the bottom line front, the company now expects to earn earnings in the range of $12.90-$13.10 per share compared to earlier guidance range of 12.10-$12.40 per share.
Stock Price : Following the earnings release, Northrop's share price rose 2% in the pre-market trading session, thereby reflecting investors' optimism about its third quarter results.
Check back later for our full write up on this NOC earnings report later!
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