Northrop Grumman Posts 2023 Earnings Results

Northrop Grumman Corp., reported fourth quarter 2023 sales increased 6% to $10.6 billion, compared with $10 billion in the fourth quarter of 2022, according to a company media release. Sales increased 7% to $39.3 billion in 2023, as compared with $36.6 billion in 2022. The Falls Church, Va.-based company operates a facility in St. Augustine employing more than 1,000 workers.

“Our team delivered a strong finish to the year in 2023, said Kathy Warden, chair, chief executive officer and president, in the release. “We generated free cash flow at the high end of our guidance range, significantly exceeded our sales guidance and beat EPS consensus absent the B-21 charge we identified as a possibility this time last year,”.

Warden said the company anticipates a strong year ahead for the company as well.

“With sustained global demand for our products, our 2024 guidance reflects continued strong sales and earnings growth,” she said in the release. “Northrop Grumman’s solid performance, record backlog and differentiated portfolio support our outlook for robust cash generation and our plans to return a significant amount of capital to shareholders.”