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Northrop Grumman (NOC) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2023, Northrop Grumman (NOC - Free Report) reported revenue of $9.58 billion, up 8.8% over the same period last year. EPS came in at $5.34, compared to $6.06 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $9.32 billion, representing a surprise of +2.72%. The company delivered an EPS surprise of +0.56%, with the consensus EPS estimate being $5.31.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Northrop Grumman performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Sales- Aeronautics Systems: $2.60 billion versus the five-analyst average estimate of $2.50 billion. The reported number represents a year-over-year change of +2.4%.
Sales- Defense Systems: $1.42 billion compared to the $1.34 billion average estimate based on five analysts. The reported number represents a change of +9.7% year over year.
Sales- Intersegment eliminations: -$568 million versus the five-analyst average estimate of -$481.32 million. The reported number represents a year-over-year change of +8.8%.
Sales- Space Systems: $3.49 billion compared to the $3.31 billion average estimate based on five analysts. The reported number represents a change of +17.1% year over year.
Sales- Mission Systems: $2.64 billion versus $2.63 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +5% change.
Operating income (loss)- Intersegment eliminations: -$76 million versus the four-analyst average estimate of -$74.37 million.
Operating income (loss)- Defense Systems: $166 million compared to the $162.30 million average estimate based on four analysts.
Operating income (loss)- Mission Systems: $401 million versus the four-analyst average estimate of $398.54 million.
Operating income (loss)- Space Systems: $283 million compared to the $330.32 million average estimate based on four analysts.
Operating income (loss)- Aeronautics Systems: $278 million compared to the $250.09 million average estimate based on four analysts.
Segment operating income adjustment- Unallocated corporate expenses: -$64 million versus -$96.74 million estimated by two analysts on average.
Segment operating income adjustment- FAS/CAS operating adjustment: -$21 million versus -$37.17 million estimated by two analysts on average.
Shares of Northrop Grumman have returned +3.3% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Northrop Grumman (NOC) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Northrop Grumman (NOC - Free Report) reported revenue of $9.58 billion, up 8.8% over the same period last year. EPS came in at $5.34, compared to $6.06 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $9.32 billion, representing a surprise of +2.72%. The company delivered an EPS surprise of +0.56%, with the consensus EPS estimate being $5.31.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Northrop Grumman performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Sales- Aeronautics Systems: $2.60 billion versus the five-analyst average estimate of $2.50 billion. The reported number represents a year-over-year change of +2.4%.
- Sales- Defense Systems: $1.42 billion compared to the $1.34 billion average estimate based on five analysts. The reported number represents a change of +9.7% year over year.
- Sales- Intersegment eliminations: -$568 million versus the five-analyst average estimate of -$481.32 million. The reported number represents a year-over-year change of +8.8%.
- Sales- Space Systems: $3.49 billion compared to the $3.31 billion average estimate based on five analysts. The reported number represents a change of +17.1% year over year.
- Sales- Mission Systems: $2.64 billion versus $2.63 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +5% change.
- Operating income (loss)- Intersegment eliminations: -$76 million versus the four-analyst average estimate of -$74.37 million.
- Operating income (loss)- Defense Systems: $166 million compared to the $162.30 million average estimate based on four analysts.
- Operating income (loss)- Mission Systems: $401 million versus the four-analyst average estimate of $398.54 million.
- Operating income (loss)- Space Systems: $283 million compared to the $330.32 million average estimate based on four analysts.
- Operating income (loss)- Aeronautics Systems: $278 million compared to the $250.09 million average estimate based on four analysts.
- Segment operating income adjustment- Unallocated corporate expenses: -$64 million versus -$96.74 million estimated by two analysts on average.
- Segment operating income adjustment- FAS/CAS operating adjustment: -$21 million versus -$37.17 million estimated by two analysts on average.
View all Key Company Metrics for Northrop Grumman here>>>Shares of Northrop Grumman have returned +3.3% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.