Northrop Grumman Corp. (NYSE: NOC) reported Q1 EPS of $2.40, ex-tax benefit, $0.25 better than the analyst estimate of $2.15. Revenue for the quarter came in at $5.85 billion versus the consensus estimate of $5.84 billion.

"First quarter results reflect another solid performance by our team and a good start to the year. Our sustained performance, coupled with share repurchases, drove higher earnings per share for the quarter. We continue to focus on performance, cash deployment and portfolio alignment as the primary value creation drivers for our shareholders, customers and employees," said Wes Bush, chairman, chief executive officer and president.

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