Northrop Grumman Corp. Q1 Profit Decreases, but beats estimates

(RTTNews) - Northrop Grumman Corp. (NOC) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $955M, or $6.10 per share. This compares with $2.195 billion, or $13.43 per share, in last year's first quarter.

Excluding items, Northrop Grumman Corp. reported adjusted earnings of $955M or $6.10 per share for the period.

Analysts on average had expected the company to earn $5.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.9% to $8.797 billion from $9.157 billion last year.

Northrop Grumman Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $955M. vs. $2.195 Bln. last year. -EPS (Q1): $6.10 vs. $13.43 last year. -Analyst Estimates: $5.96 -Revenue (Q1): $8.797 Bln vs. $9.157 Bln last year.

-Guidance: Full year EPS guidance: 24.50 to 25.10 Full year revenue guidance: 24.50 to 25.10