Northrop Grumman Reports 1st Quarter Earnings
Northrop Grumman Corp., one of St. Johns County’s largest employers, reported first quarter 2023 sales increased 6 % to $9.3 billion, as compared with $8.8 billion in the first quarter of 2022. First quarter 2023 net earnings totaled $842 million, or $5.50 per diluted share, as compared with $955 million, or $6.10 per diluted share, in the first quarter of 2022.
“Our first quarter results reflect continued strong demand across our broad portfolio of
products and services,” said Kathy Warden, chair, chief executive officer and president, in a media release.
“Our sales and operating income both increased by six percent in the first quarter, and based on our strong start to the year, we remain confident in our full year and long-term outlook for the business,” Warden said. “We continue to make significant investments in capability and capacity to support our global customers, while also returning $1 billion to shareholders in the quarter, as part of our capital deployment strategy.”