Close

Northrop Grumman (NOC) Tops Q1 EPS by 13c; Outlook Raised

April 29, 2015 7:01 AM EDT

Northrop Grumman (NYSE: NOC) reported Q1 EPS of $2.41, $0.13 better than the analyst estimate of $2.28. Revenue for the quarter came in at $6 billion versus the consensus estimate of $5.8 billion.

Northrop Grumman sees FY2015 EPS of $9.40-$9.60, versus the consensus of $9.48.

The company repurchased 5.3 million shares of its common stock for $859 million in the first quarter of 2015. As of March 31, 2015, the company had repurchased 47.5 million shares toward its previously announced goal of retiring 60 million shares of its common stock by the end of 2015, market conditions permitting.

"Our team is off to a strong start in 2015 with first quarter results that include solid margin rates at all four of our businesses. Strong operational performance, combined with our share repurchases, resulted in another solid quarter. We continue to execute a balanced cash deployment strategy that includes investing in our business and returning cash to shareholders," said Wes Bush, chairman, chief executive officer and president.

For earnings history and earnings-related data on Northrop Grumman (NOC) click here.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Earnings, Guidance, Hot Earnings, Hot Guidance, Management Comments

Related Entities

Earnings