Falls Church, VA-based aerospace and defense operator Northrop Grumman Corporation (NOC - Free Report) 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 10.87%.
Zacks Rank: Currently, Northrop Grumman Corporation has a Zacks Rank# 2 (Buy) but that could change following its second quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 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 $3.15 compared to the Zacks Consensus Estimate of $2.84.
Revenue: Revenues of $6.38 billion also exceeded the Zacks Consensus Estimate of $6.21 billion.
Key Stats: Northrop Grumman’s cash flow from operating activities totaled $68 million in the second quarter of 2017 compared to $544 million used in the second quarter of 2016.
For 2017, the company currently expects to generate sales of less than $25 billion, lower than earlier guidance of $25 billion. On the bottom line front, the company has raised its outlook. The company now expects to earn earnings in the range of $12.10–$12.40 per share compared to earlier guidance range of $11.80 to $12.10 per share.
Stock Price: Following the earnings release, Northrop’s share price has undergone no significant change in the pre-market trading session.
Check back later for our full write up on this NOC earnings report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaries,"" but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>