Northrop Grumman Raises Earnings Outlook; Q1 Profit Beats Estimates; Sales Up 5%

(RTTNews) - Northrop Grumman Corp. (NOC) announced the company now expects its fiscal 2017 EPS in a range of $11.80 to $12.10, up from prior guidance of $11.30 to $11.60. The company continues to expects 2017 sales of approximately $25.00 billion.

First-quarter net earnings increased 15 percent to $640 million from $556 million in the prior year period. First quarter earnings per share increased 20 percent to $3.63 from $3.03. On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $2.92 for the quarter. Analysts' estimates typically exclude special items. Pension-adjusted EPS was $3.13 compared to $2.77.

First-quarter sales increased 5 percent to $6.27 billion from $5.96 billion, previous year. Analysts expected revenue of $6.14 billion for the quarter.