Citable filing context
NOC's research view summarizes recent SEC filing context, starting with management_change from Aug 21, 2026.
| Filed | Item | Context |
|---|---|---|
| Aug 21, 2026 | management_change | Northrop Grumman approved a one-time performance-based equity grant of 35,910 Market Stock Units to CEO Kathy Warden. |
| Jul 21, 2026 | earnings | Northrop Grumman reported Q2 2026 sales of $10.9 billion and diluted EPS of $7.68. |
| May 21, 2026 | other | Northrop Grumman reported the results of its 2026 Annual Meeting of Shareholders held on May 20, 2026. |
| Jul 21, 2026 | Guidance: adjusted_free_cash_flow | 3100.00 to 3500.00 |
| Jul 21, 2026 | Guidance: mtm_adjusted_eps | 28.60 to 29.10 |
| Jul 21, 2026 | Guidance: sales | 43750.00 to 44250.00 |
| Jul 21, 2026 | mda_quarterly | Northrop Grumman reported a 5% increase in total sales for the second quarter of 2026, reaching $10.88 billion, driven by growth across all four operating segments. Despite this top-line expansion, operating income fell 23% to $1.10 billion, largely due to the absence of a $231 million gain from the 2025 divestiture of the Immersive Mission Solutions business and lower segment operating margins. Aeronautics Systems remains a primary growth driver, with sales rising 13% behind the B-21 bomber program and the E-130J TACAMO aircraft. The company continues to navigate significant cost pressures, notably recording a $91 million unfavorable estimate-at-completion (EAC) adjustment on the Space Systems GEM 63XL program and a $68 million charge on the Defense Systems Stand-in Attack Weapon (SiAW) program. While the B-21 program saw an agreement to expand production capacity, it continues to carry a $1.0 billion loss accrual. The Sentinel program remains a focal point, with a $7.6 billion increase in backlog following progress on its restructured execution plan. The company maintains a strong liquidity position with $2.3 billion in cash and no outstanding commercial paper, supported by a $3.0 billion revolving credit facility. |
| Apr 21, 2026 | mda_quarterly | Northrop Grumman reported first-quarter 2026 sales of $9.88 billion, a 4% increase, with operating income rising 73% to $989 million. This significant earnings jump was primarily driven by the absence of a prior-year $477 million B-21 loss provision. Aeronautics Systems sales grew 17% to $3.28 billion, bolstered by B-21 and E-130J TACAMO volume; the company expects to invest $2.5 billion to expand B-21 production capacity. Defense Systems saw growth from the Sentinel and IBCS portfolios, while Space Systems sales declined 3% to $2.48 billion due to the Next Generation Interceptor (NGI) wind-down and a $71 million unfavorable EAC adjustment following a GEM 63XL launch anomaly. Total backlog remains robust at $95.6 billion. While the One Big Beautiful Bill Act (OBBBA) provides $150 billion in mandatory defense funding for modernization and Pacific deterrence, the company is navigating a partial government shutdown and a DOJ/DCMA investigation into CAS pension expense interest rate assumptions. Free cash flow for the quarter was negative $1.82 billion, consistent with historical seasonal trends. The company continues to manage macroeconomic pressures, including supply chain disruptions and labor shortages, while executing the restructure of the Sentinel program. |
Source: SEC EDGAR filing text and events; period Aug 21, 2026; filed Aug 21, 2026.
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