Northrop Grumman Q1 Earnings Call Highlights

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MarketBeat

Tue, April 21, 2026 astatine 10:51 AM CDT 9 min read

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Q1 results: Northrop reported income of $9.9 cardinal (organic +5%), diluted EPS of $6.14 and a $96 cardinal backlog, and reaffirmed 2026 guidance for $43.5–44.0 cardinal successful income and $3.1–3.5 cardinal successful escaped currency travel portion expanding 2026 CapEx to $1.85 cardinal to enactment programme ramps.
B-21 acceleration: The institution agreed with the USAF to boost yearly B-21 accumulation by 25%, received the Lot 4 LRIP award, expects craft arrivals astatine Ellsworth AFB successful 2027, and volition money astir $2.5 cardinal (about $200 cardinal successful 2026) of installation concern to enactment the ramp.
Business mix: Defense and munitions are driving growth—Sentinel is accelerating with double‑digit Q1 maturation and accumulation milestones, tactical coagulated rocket centrifugal capableness has doubled and weapons are nearing 10% of sales—while Space results declined year‑over‑year owed to a anterior NGI closeout payment and a $71 cardinal GEM 63XL adjustment.
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Northrop Grumman (NYSE:NOC) reported first-quarter 2026 results that executives said reflected “strong demand, coagulated operating performance, and advancement we are making connected cardinal programs,” portion maintaining full-year guidance and outlining plans to accelerate capableness connected respective defence priorities.

Chief Financial Officer John Greene said first-quarter income were $9.9 billion, up 4% year-over-year, with integrated income maturation of 5%. Segment operating income roseate to “over $1 billion,” and conception operating borderline improved to 10.8%, helium said.

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Greene added that awards totaled $9.8 cardinal successful the quarter, and the institution ended the play with $96 cardinal successful backlog.

Diluted EPS for the 4th was $6.14, which Greene said was up substantially from the anterior year, driven by higher income and conception operating income and partially offset by little nett pension income.

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Northrop besides reported first-quarter currency travel arsenic a usage of astir $1.8 billion, which Greene said was accordant with humanities seasonality, with the astir important currency procreation typically occurring successful the 4th quarter.

Chair, CEO, and President Kathy Warden said the institution has been investing successful capableness and capableness for respective years, noting that Northrop has opened “over 20 caller facilities” and added “more than 2 cardinal sq ft of manufacturing space” crossed the U.S. implicit the past 2 years. Warden said that since the commencement of 2026, Northrop has agreed with customers connected plans to accelerate the Sentinel program, summation the B-21 physique rate, go a second-source supplier of coagulated rocket motors connected respective programs, and ramp accumulation connected different programs.

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