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Northrop Grumman (NOC) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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Northrop Grumman (NOC - Free Report) reported $10.64 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 6%. EPS of $6.27 for the same period compares to $7.50 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $10.44 billion, representing a surprise of +1.93%. The company delivered an EPS surprise of +9.04%, with the consensus EPS estimate being $5.75.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $2.91 billion compared to the $2.83 billion average estimate based on five analysts. The reported number represents a change of +5.6% year over year.
Sales- Defense Systems: $1.65 billion versus $1.51 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -0.7% change.
Sales- Intersegment eliminations: -$582 million versus -$590.35 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -0.7% change.
Sales- Space Systems: $3.60 billion versus $3.68 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +9.9% change.
Sales- Mission Systems: $3.06 billion versus $3.03 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +4.7% change.
Operating income (loss)- Intersegment eliminations: -$80 million versus the five-analyst average estimate of -$89.98 million.
Operating income (loss)- Defense Systems: $202 million compared to the $179.44 million average estimate based on five analysts.
Operating income (loss)- Mission Systems: $462 million versus the five-analyst average estimate of $473.63 million.
Operating income (loss)- Space Systems: $304 million compared to the $340.68 million average estimate based on five analysts.
Operating income (loss)- Aeronautics Systems: -$1.27 billion versus $284.70 million estimated by five analysts on average.
Segment operating income adjustment- Unallocated corporate expenses: $10 million compared to the -$119.77 million average estimate based on three analysts.
Segment operating income adjustment- FAS/CAS operating adjustment: -$20 million versus -$18 million estimated by two analysts on average.
Shares of Northrop Grumman have returned -0.1% over the past month versus the Zacks S&P 500 composite's +2.5% 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) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
Northrop Grumman (NOC - Free Report) reported $10.64 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 6%. EPS of $6.27 for the same period compares to $7.50 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $10.44 billion, representing a surprise of +1.93%. The company delivered an EPS surprise of +9.04%, with the consensus EPS estimate being $5.75.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $2.91 billion compared to the $2.83 billion average estimate based on five analysts. The reported number represents a change of +5.6% year over year.
- Sales- Defense Systems: $1.65 billion versus $1.51 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -0.7% change.
- Sales- Intersegment eliminations: -$582 million versus -$590.35 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -0.7% change.
- Sales- Space Systems: $3.60 billion versus $3.68 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +9.9% change.
- Sales- Mission Systems: $3.06 billion versus $3.03 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +4.7% change.
- Operating income (loss)- Intersegment eliminations: -$80 million versus the five-analyst average estimate of -$89.98 million.
- Operating income (loss)- Defense Systems: $202 million compared to the $179.44 million average estimate based on five analysts.
- Operating income (loss)- Mission Systems: $462 million versus the five-analyst average estimate of $473.63 million.
- Operating income (loss)- Space Systems: $304 million compared to the $340.68 million average estimate based on five analysts.
- Operating income (loss)- Aeronautics Systems: -$1.27 billion versus $284.70 million estimated by five analysts on average.
- Segment operating income adjustment- Unallocated corporate expenses: $10 million compared to the -$119.77 million average estimate based on three analysts.
- Segment operating income adjustment- FAS/CAS operating adjustment: -$20 million versus -$18 million estimated by two analysts on average.
View all Key Company Metrics for Northrop Grumman here>>>Shares of Northrop Grumman have returned -0.1% over the past month versus the Zacks S&P 500 composite's +2.5% 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.