Northrop Grumman Q3 2024 Filing Released

TL;DR

NGM Q3 24 numbers are in. Check the 10-Q for details.

AI Summary

Northrop Grumman Corporation reported its third-quarter 2024 results, with net sales for the three months ended September 30, 2024, and September 30, 2023, showing specific figures that will be detailed in the full report. The company's fiscal year ends on December 31st, and this 10-Q filing covers the period up to September 30, 2024.

Why It Matters

This filing provides investors with crucial financial data for Northrop Grumman, impacting investment decisions and market analysis for the aerospace and defense giant.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing (10-Q) and does not inherently present new risks.

Key Numbers

• 2024-09-30 — Report End Date (Covers the third quarter of 2024.)
• 2023-09-30 — Prior Year End Date (For comparative analysis with the current quarter.)
• 2024-01-01 — Year-to-Date Start (Beginning of the fiscal year for year-to-date figures.)

Key Players & Entities

• NORTHROP GRUMMAN CORP /DE/ (company) — Filer
• 20240930 (date) — Period of Report
• 20241024 (date) — Filing Date
• 3812 (other) — Standard Industrial Classification

FAQ

Filing Documents

• noc-20240930.htm (10-Q) — 1644KB
• noc-09302024xex15.htm (EX-15) — 4KB
• noc-09302024xex311.htm (EX-31.1) — 10KB
• noc-09302024xex312.htm (EX-31.2) — 10KB
• noc-09302024xex321.htm (EX-32.1) — 5KB
• noc-09302024xex322.htm (EX-32.2) — 5KB
• 0001133421-24-000064.txt ( ) — 8257KB
• noc-20240930.xsd (EX-101.SCH) — 43KB
• noc-20240930_cal.xml (EX-101.CAL) — 46KB
• noc-20240930_def.xml (EX-101.DEF) — 211KB
• noc-20240930_lab.xml (EX-101.LAB) — 594KB
• noc-20240930_pre.xml (EX-101.PRE) — 406KB
• noc-20240930_htm.xml (XML) — 1618KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Condensed Consolidated Statements of Earnings and Comprehensive Income 1 Condensed Consolidated Statements of Financial Position 2 Condensed Consolidated Statements of Cash Flows 3 Condensed Consolidated Statements of Changes in Shareholders' Equity 4 Notes to Condensed Consolidated Financial Statements 1. Basis of Presentation 5 2. Earnings Per Share, Share Repurchases and Dividends on Common Stock 8 3. Inventoried Costs, Net 9 4. Income Taxes 10 5. Fair Value of Financial Instruments 10 6. Investigations, Claims and Litigation 12 7. Commitments and Contingencies 12 8. Retirement Benefits 14 9. Stock Compensation Plans and Other Compensation Arrangements 14 10. Segment Information 15 Report of Independent Registered Public Accounting Firm 19

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Overview 20 Consolidated Operating Results 21 Segment Operating Results 23 Product and Service Analysis 28 Backlog 29 Liquidity and Capital Resources 29 Critical Accounting Policies, Estimates and Judgments 31 Accounting Standards Updates 31

Forward-Looking Statements and Projections

Forward-Looking Statements and Projections 31

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 33

Controls and Procedures

Item 4. Controls and Procedures 33

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 34

Risk Factors

Item 1A. Risk Factors 34

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34

Other Information

Item 5. Other Information 35

Exhibits

Item 6. Exhibits 36

Signatures

Signatures 37 i Table of Contents NORTHROP GRUMMAN CORPORATION

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME (Unaudited) Three Months Ended September 30 Nine Months Ended September 30 $ in millions, except per share amounts 2024 2023 2024 2023 Sales Product $ 7,939 $ 7,678 $ 24,117 $ 22,390 Service 2,057 2,097 6,230 6,262 Total sales 9,996 9,775 30,347 28,652 Operating costs and expenses Product 6,280 6,135 19,079 17,738 Service 1,610 1,599 4,838 4,848 General and administrative expenses 986 1,025 3,149 3,136 Total operating costs and expenses 8,876 8,759 27,066 25,722 Operating income 1,120 1,016 3,281 2,930 Other (expense) income Interest expense ( 161 ) ( 141 ) ( 461 ) ( 417 ) Non-operating FAS pension benefit 168 132 503 397 Other, net 61 111 142 193 Earnings before income taxes 1,188 1,118 3,465 3,103 Federal and foreign income tax expense 162 181 555 512 Net earnings $ 1,026 $ 937 $ 2,910 $ 2,591 Basic earnings per share $ 7.02 $ 6.20 $ 19.73 $ 17.07 Weighted-average common shares outstanding, in millions 146.2 151.2 147.5 151.8 Diluted earnings per share $ 7.00 $ 6.18 $ 19.69 $ 17.00 Weighted-average diluted shares outstanding, in millions 146.5 151.7 147.8 152.4 Net earnings (from above) $ 1,026 $ 937 $ 2,910 $ 2,591 Other comprehensive income (loss), net of tax Change in cumulative translation adjustment 2 6 2 11 Change in other, net 8 ( 3 ) ( 10 ) ( 5 ) Other comprehensive income (loss), net of tax 10 3 ( 8 ) 6 Comprehensive income $ 1,036 $ 940 $ 2,902 $ 2,597 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. -1- Table of Contents NORTHROP GRUMMAN CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited) $ in millions, except par value September 30, 2024 December 31, 2023 Assets Cash and cash equivalents $ 3,326 $ 3,109 Accounts receivable, net 1,609 1,454 Unbilled receivables, net 6,518 5,693 Inventoried costs, net 1,646 1,109 Prepa

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View this 10-Q filing on SEC EDGAR