Northrop Grumman CEO Presents at CITI Conference
Northrop Grumman, which employs 1,100 workers at its St. Augustine facility, is poised to improve on a strong 2022, according to Kathy Warden, chair, president and CEO.
Warden was a featured participant at Citi’s 2023 Global Industrial Tech and Mobility Conference in Miami and offered an optimistic view of the company’s prospects for the coming year.
“As we closed out 2022, I am extremely proud of how our team performed during a period of growth for our company,” she said. “We delivered 3% sales growth in 2022 and raised our outlook for sales growth to 4 to 5% this year.”
Warden said the company is still facing headwinds from supply chain issues, inflation and a tight labor market, but things are looking better.
“We’re seeing improvement, especially around labor,” she said.
Warden said the increase approved in the U.S. defense budget during the last budget cycle bodes well for Northrop Grumman and the company is positioned to meet the needs of its customers, both foreign and domestic.
“In every area of the Northrop Grumman portfolio we have been doing strategic reviews,” she said. “We are investing in technologies, and we are investing in capacity where the government is increasing demand – and we stand ready to fill that demand.”
She added that ongoing discussions of capacity issues in light of the Russian invasion of Ukraine led to a review of the company’s weapons portfolio.
“Our allies need to replenish their stockpiles just as the United States does,” Warden said. “We see our portfolio as very well aligned with the national defense strategy.”
One area where Warden sees the potential for long-term growth is in space, which is a particularly important sector across the Sunshine State.
“I think space is going to be far more relevant in 2030 than it is today,” she said. “It is the ultimate unmanned platform (and) we hear the (armed) services talking about wanting to move to unmanned.”