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Northrop Grumman (NOC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Northrop Grumman (NOC - Free Report) reported $10 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 2.3%. EPS of $7.00 for the same period compares to $6.18 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $10.23 billion, representing a surprise of -2.25%. The company delivered an EPS surprise of +15.32%, with the consensus EPS estimate being $6.07.
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- Mission Systems: $2.82 billion compared to the $2.71 billion average estimate based on five analysts. The reported number represents a change of +7.4% year over year.
Sales- Aeronautics Systems: $2.88 billion compared to the $2.90 billion average estimate based on five analysts. The reported number represents a change of +4.1% year over year.
Sales- Intersegment eliminations: -$659 million versus -$671.47 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +20.7% change.
Sales- Space Systems: $2.87 billion versus the five-analyst average estimate of $2.93 billion. The reported number represents a year-over-year change of -18.1%.
Sales- Defense Systems: $2.08 billion compared to the $2.35 billion average estimate based on five analysts. The reported number represents a change of +46.7% year over year.
Operating income (loss)- Aeronautics Systems: $298 million versus the five-analyst average estimate of $313.12 million.
Operating income (loss)- Defense Systems: $196 million versus the five-analyst average estimate of $235.77 million.
Operating income (loss)- Mission Systems: $390 million versus the five-analyst average estimate of $392.86 million.
Operating income (loss)- Space Systems: $345 million versus $294.88 million estimated by five analysts on average.
Segment operating income adjustment- Unallocated corporate expenses: -$46 million compared to the -$14.05 million average estimate based on four analysts.
Operating income (loss)- Intersegment eliminations: -$83 million compared to the -$89.11 million average estimate based on four analysts.
Segment operating income adjustment- FAS/CAS operating adjustment: $20 million versus the three-analyst average estimate of $16.82 million.
Shares of Northrop Grumman have returned -2.2% over the past month versus the Zacks S&P 500 composite's +1.5% 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) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Northrop Grumman (NOC - Free Report) reported $10 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 2.3%. EPS of $7.00 for the same period compares to $6.18 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $10.23 billion, representing a surprise of -2.25%. The company delivered an EPS surprise of +15.32%, with the consensus EPS estimate being $6.07.
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- Mission Systems: $2.82 billion compared to the $2.71 billion average estimate based on five analysts. The reported number represents a change of +7.4% year over year.
- Sales- Aeronautics Systems: $2.88 billion compared to the $2.90 billion average estimate based on five analysts. The reported number represents a change of +4.1% year over year.
- Sales- Intersegment eliminations: -$659 million versus -$671.47 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +20.7% change.
- Sales- Space Systems: $2.87 billion versus the five-analyst average estimate of $2.93 billion. The reported number represents a year-over-year change of -18.1%.
- Sales- Defense Systems: $2.08 billion compared to the $2.35 billion average estimate based on five analysts. The reported number represents a change of +46.7% year over year.
- Operating income (loss)- Aeronautics Systems: $298 million versus the five-analyst average estimate of $313.12 million.
- Operating income (loss)- Defense Systems: $196 million versus the five-analyst average estimate of $235.77 million.
- Operating income (loss)- Mission Systems: $390 million versus the five-analyst average estimate of $392.86 million.
- Operating income (loss)- Space Systems: $345 million versus $294.88 million estimated by five analysts on average.
- Segment operating income adjustment- Unallocated corporate expenses: -$46 million compared to the -$14.05 million average estimate based on four analysts.
- Operating income (loss)- Intersegment eliminations: -$83 million compared to the -$89.11 million average estimate based on four analysts.
- Segment operating income adjustment- FAS/CAS operating adjustment: $20 million versus the three-analyst average estimate of $16.82 million.
View all Key Company Metrics for Northrop Grumman here>>>Shares of Northrop Grumman have returned -2.2% over the past month versus the Zacks S&P 500 composite's +1.5% 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.