Northrop Grumman Reports Strong Quarterly Results
Northrop Grumman Corp., one of the largest companies in St. Johns County with more than 1,000 employees, reported fourth quarter 2022 sales increased 16% to $10 billion compared to $8.6 billion in the fourth quarter of 2021, according to a company media release. Sales increased 3% to $36.6 billion in 2022 compared to $35.7 billion in 2021.
In the release, the company said fourth quarter 2022 sales reflect strong demand, the timing of material receipts and continued improvement in labor availability trends.
“The Northrop Grumman team continues to deliver strong financial and operating performance, further positioning our company for near and long-term growth,” said Kathy Warden, chair, chief executive officer and president, in the release. “Given our proven ability to competitively win, hire and perform, we’re raising our sales outlook for 2023 and expect to deliver strong multi-year cashflow growth.”