Northrop Grumman (NOC)
NYSE:NOC
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Earnings Data
Report Date
Jul 23, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
6.82Last Year’s EPS
8.15Same Quarter Last Year
Moderate Buy
Based on 16 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a broadly positive outlook: solid quarterly growth (sales +4%, organic +5%), strong bookings ($9.8B) and a large backlog ($96B), improving margins, significant program accelerations (B-21 production +25%, Sentinel milestones), and active investments to expand capacity. Near-term negatives include a weak Space quarter driven by one-time timing and program adjustments (NGI and GEM 63XL), Q1 cash use and sizable multi-year CapEx for B-21, and execution/timing risks tied to supplier scaling and program testing. On balance, the positive operational and backlog momentum, reaffirmed guidance, and material strategic wins and investments outweigh the manageable near-term challenges.Company Guidance
Revenue and Organic Sales Growth
First quarter sales of $9.9 billion, up 4% year over year; organic sales up 5% — described as a strong start to the year and consistent with full-year expectations.
Robust Awards and Backlog
Q1 awards totaled $9.8 billion and backlog ended at $96 billion, providing over two years of sales coverage and a strong base for future growth.
Improved Segment Profitability
Segment operating income exceeded $1 billion with overall segment margins improving to 10.8%; company expects low-to-mid 11% margin rate for the year and margin improvement over the course of 2026.
Aeronautics Systems Outperformance
Aeronautics Systems sales up 17% driven by B-21 and other restricted programs; AS operating margin improved to 9.3%, helped by absence of the 2025 B-21 loss provision.
Defense Systems and Missile/Weapons Momentum
Defense Systems sales increased 5% (organic sales +10%) driven by Sentinel ramp and tactical solid rocket motors; weapons/munitions nearing 10% of company sales and positioned to grow well above company average.
Mission Systems Operating Strength
Mission Systems sales rose 2% and operating income increased 20%, lifting the MS operating margin to 15.1% driven by favorable earnings adjustments.
Strategic Program Acceleration (B-21 & Sentinel)
Agreement to increase B-21 production rate by 25% with Lot 4 LRIP award received; Sentinel program accelerated (Milestone B expected later this year, first flight in 2027) — both programs expected to be meaningful growth drivers (B-21 nearing 10% of revenue; Sentinel ~6–7% today, growing toward 10%).
Strong EPS and Maintained Guidance
Diluted EPS of $6.14 in Q1, up substantially year over year; company reaffirmed 2026 guidance with full-year sales expected between $43.5 billion and $44.0 billion and free cash flow guidance maintained at $3.1–$3.5 billion.
Capacity Investments and Industrial Expansion
More than $1 billion invested in SRM and munitions technologies; opened over 20 facilities and added >2 million sq ft of manufacturing space in past two years; 2026 CapEx guidance increased to $1.85 billion (including ~$200 million for B-21 capacity).
NOC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
NOC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 21, 2026 | $656.98 | $611.13 | -6.98% |
Jan 27, 2026 | $658.86 | $676.57 | +2.69% |
Oct 21, 2025 | $597.65 | $595.02 | -0.44% |
Jul 17, 2025 | $513.93 | $518.01 | +0.79% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Northrop Grumman (NOC) report earnings?
Northrop Grumman (NOC) is schdueled to report earning on Jul 23, 2026, Before Open (Confirmed).
What is Northrop Grumman (NOC) earnings time?
Northrop Grumman (NOC) earnings time is at Jul 23, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NOC EPS forecast?
NOC EPS forecast for the fiscal quarter 2026 (Q2) is 6.82.
