Northrop Grumman CorporationQ2 earnings beat and raised guidance

Northrop Grumman shares have risen about 11% since its second-quarter earnings report, outperforming the S&P 500. The company reported adjusted earnings of $7.68 per share, beating the Zacks Consensus Estimate of $6.84 by 12.3%, while total sales of $10.88 billion edged past the consensus of $10.80 billion. Northrop Grumman raised its full-year revenue guidance to a range of $43.75 billion to $44.25 billion and adjusted earnings guidance to $28.60 to $29.10 per share. The company's total backlog stood at $95.68 billion at the end of the second quarter, slightly up from $95.61 billion at the end of the first quarter. Analysts have been revising estimates upward, and the stock currently carries a Zacks Rank #3, or Hold.
Northrop Grumman CorporationQ2 earnings beat and raised guidance
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