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Northrop Grumman (NOC) Q1 Earnings Top, Sales Miss Estimates

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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.

Estimate Trend & Surprise History

Investors should note that Zacks Consensus Estimate for the first quarter earnings of $4.59 per share has declined by a penny over the last 60 days.

Northrop Grumman has surpassed the Zacks Consensus Estimate in the last four quarters, resulting in a positive average surprise of 19.93%.

Zacks Rank: Currently, Northrop Grumman Corporation has a Zacks Rank# 3 (Hold) but that could change following its first quarter 2019 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. Earnings per share came in at $5.06 compared to the Zacks Consensus Estimate of $4.59.

Revenue: Revenues of $8.19 billion missed the Zacks Consensus Estimate of $8.32 billion.

Key Stats: Aerospace Systems segment witnessed 7% sales growth whereas its Mission Systems segment witnessed flat sales growth. However, the Technology Services unit’s sales declined 15%.

Stock Price: It would be interesting to see how the market reacts to the results during the trading session today.

Check back later for our full write up on this NOC earnings report later!

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