Northrop Grumman Lifts FY21 Earnings View Above Market; Cuts Revenue Forecast

(RTTNews) - While announcing higher earnings and weak sales in the third quarter, Northrop Grumman Corp. (NOC) on Thursday raised fiscal 2021 earnings guidance and continue to expect strong organic sales growth.

For fiscal 2021, the company now projects MTM-adjusted earnings in a range of $32.10 to $32.50 per share and transaction-adjusted earnings in a range of $ 25.20 to $25.60 per share.

Previously, the company expected MTM-adjusted earnings in a range of $31.30 to $31.70 per share and transaction-adjusted earnings in a range of $24.40 to $24.80 per share

Further, sales are now expected to be $36 billion, compared to previous estimate between $35.80 billion and $36.20 billion.

On average, 17 analysts polled by Thomson Reuters expect the company to report earnings of $24.99 per share on revenues of $36.26 billion for the year. Analysts' estimates typically exclude special items.

Operating margin is now expected to be 16 percent to 16.2 percent, up from 15.5 percent to 15.7 percent last year.