Northrop Grumman Corporation (1NOC)
Summary
Northrop Grumman: A Buy Despite Rising Fears
Northrop Grumman delivered strong Q2 2026 results, with 5% sales growth, a record $104.7B backlog, and raised 2026 guidance despite headline margin pressure. NOC's margin compression stemmed from isolated program issues (SiAW, GEM 63XL), while core segments operated near historical margin levels and cash flow surged. 2026 guidance now implies $44B in sales, $28.60–$29.10 EPS, and $3.1–$3.5B in free cash flow, with B-21, Sentinel, and national security space as key growth drivers.
NOC Q2 Earnings Call Signals Faster Growth in H2'26
NOC raises 2026 sales and EPS guidance as a record backlog, strong bookings and program momentum point to faster growth in the second half.
Northrop Grumman Corporation (NOC) Q2 2026 Earnings Call Transcript
Northrop Grumman Corporation (NOC) Q2 2026 Earnings Call Transcript
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Northrop Grumman Corporation Profile
| Aerospace & Defense Industry | Industrials Sector | Kathy J. Warden CEO | XMIL Exchange | US6668071029 ISIN |
| US Country | 95,000 Employees | 1 Jun 2026 Last Dividend | 31 Mar 2011 Last Split | 31 Dec 1981 IPO Date |
Overview
Northrop Grumman Corporation, headquartered in Falls Church, Virginia, is a forefront aerospace and defense technology company with a global presence including in the United States, Asia/Pacific, and Europe. Since its inception in 1939, Northrop Grumman has been at the leading edge of designing, developing, manufacturing, and sustaining sophisticated aircraft systems. The company's extensive portfolio spans aeronautics, defense systems, mission systems, and space systems, catering to a diverse array of clients including defense, civil, and commercial entities around the world.
Products and Services
- Aeronautics Systems
This segment covers the design, development, manufacturing, integration, and maintenance of advanced aircraft systems. Key offerings include unmanned autonomous aircraft systems for strategic ISR (Intelligence, Surveillance, Reconnaissance) and vertical take-off and landing tactical ISR systems; strategic long-range strike aircraft; tactical fighter and air dominance aircraft; and airborne battle management, alongside command and control systems.
- Defense Systems
Northrop Grumman's Defense Systems deliver a range of tactical weapons and missile defense solutions, sustained, modernized, and trained for both manned and unmanned aircraft and electronics systems. Services and products feature all-domain command and control battle management systems, precision strike weapons, hypersonic systems, high-performance guns, ammunition, and advanced fuzes; alongside logistic support and warfighter training services.
- Mission Systems
This segment offers advanced technologies in command, control, communications, computers (C4), intelligence, surveillance, and reconnaissance (C4ISR) systems; radar and sensor systems; electronic warfare systems; advanced communication and network systems; cyber solutions; intelligence processing systems; and navigation. It also includes maritime power and propulsion systems, alongside payload launch capabilities.
- Space Systems
Offerings in the Space Systems arena include satellites, spacecraft systems, and sub-systems; sensors and payloads; ground systems for space applications; missile defense systems and interceptors; launch vehicles and associated propulsion systems; and strategic missiles. These products and services support a wide range of space activities from national security to civil and commercial space missions.
