Northrop Grumman Q1 Sales Rise to $10.13B
Ticker: NOC · Form: 10-Q · Filed: 2024-04-25T00:00:00.000Z
Sentiment: bullish
Topics: earnings, revenue, defense
TL;DR
NGM Q1 sales up to $10.13B from $9.21B last year. Defense spending strong.
AI Summary
Northrop Grumman Corporation reported its first quarter 2024 results, with total net sales for the three months ended March 31, 2024, reaching $10.13 billion. This represents a slight increase compared to the $9.21 billion in net sales for the same period in 2023. The company's financial filing also details its balance sheet as of March 31, 2024, including common stock and additional paid-in capital.
Why It Matters
This filing provides insight into Northrop Grumman's revenue performance in early 2024, indicating growth in a key defense contractor.
Risk Assessment
Risk Level: low — This is a routine quarterly filing with no immediate red flags or significant negative developments.
Key Numbers
- $10.13B — Q1 2024 Net Sales (Represents revenue for the first three months of 2024.)
- $9.21B — Q1 2023 Net Sales (Represents revenue for the first three months of 2023, used for comparison.)
Key Players & Entities
- NORTHROP GRUMMAN CORP /DE/ (company) — Filer
- 20240331 (date) — Period of Report
- $10.13 billion (dollar_amount) — Q1 2024 Net Sales
- $9.21 billion (dollar_amount) — Q1 2023 Net Sales
FAQ
What were Northrop Grumman's total net sales for the first quarter of 2024?
Northrop Grumman's total net sales for the three months ended March 31, 2024, were $10.13 billion.
How do the Q1 2024 net sales compare to Q1 2023 net sales?
Q1 2024 net sales of $10.13 billion represent an increase compared to $9.21 billion in net sales for the same period in 2023.
What is the fiscal year end for Northrop Grumman?
The fiscal year end for Northrop Grumman is December 31.
What is the filing date of this 10-Q report?
This 10-Q report was filed on April 25, 2024.
What is the SIC code for Northrop Grumman?
The Standard Industrial Classification (SIC) code for Northrop Grumman is 3812 (Search, Detection, Navigation, Guidance, Aeronautical Systems).
From the Filing
0001133421-24-000026.txt : 20240425 0001133421-24-000026.hdr.sgml : 20240425 20240425160248 ACCESSION NUMBER: 0001133421-24-000026 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 69 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240425 DATE AS OF CHANGE: 20240425 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NORTHROP GRUMMAN CORP /DE/ CENTRAL INDEX KEY: 0001133421 STANDARD INDUSTRIAL CLASSIFICATION: SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS [3812] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 800640649 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-16411 FILM NUMBER: 24876118 BUSINESS ADDRESS: STREET 1: 2980 FAIRVIEW PARK DRIVE STREET 2: C/O NORTHROP GRUMMAN CORP CITY: FALLS CHURCH STATE: VA ZIP: 22042 BUSINESS PHONE: 703-280-2900 MAIL ADDRESS: STREET 1: 2980 FAIRVIEW PARK DRIVE STREET 2: C/O NORTHROP GRUMMAN CORP CITY: FALLS CHURCH STATE: VA ZIP: 22042 FORMER COMPANY: FORMER CONFORMED NAME: NNG INC DATE OF NAME CHANGE: 20010129 10-Q 1 noc-20240331.htm 10-Q noc-20240331 Q1 FALSE 2024 December 31 NORTHROP GRUMMAN CORP /DE/ 0001133421 3 3 0001133421 2024-01-01 2024-03-31 0001133421 2024-04-22 xbrli:shares 0001133421 us-gaap:ProductMember 2024-01-01 2024-03-31 iso4217:USD 0001133421 us-gaap:ProductMember 2023-01-01 2023-03-31 0001133421 us-gaap:ServiceMember 2024-01-01 2024-03-31 0001133421 us-gaap:ServiceMember 2023-01-01 2023-03-31 0001133421 2023-01-01 2023-03-31 iso4217:USD xbrli:shares 0001133421 2024-03-31 0001133421 2023-12-31 0001133421 2022-12-31 0001133421 2023-03-31 0001133421 us-gaap:CommonStockMember 2023-12-31 0001133421 us-gaap:CommonStockMember 2022-12-31 0001133421 us-gaap:CommonStockMember 2024-01-01 2024-03-31 0001133421 us-gaap:CommonStockMember 2023-01-01 2023-03-31 0001133421 us-gaap:CommonStockMember 2024-03-31 0001133421 us-gaap:CommonStockMember 2023-03-31 0001133421 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001133421 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0001133421 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0001133421 us-gaap:AdditionalPaidInCapitalMember 2023-03-31 0001133421 us-gaap:RetainedEarningsMember 2023-12-31 0001133421 us-gaap:RetainedEarningsMember 2022-12-31 0001133421 us-gaap:RetainedEarningsMember 2024-01-01 2024-03-31 0001133421 us-gaap:RetainedEarningsMember 2023-01-01 2023-03-31 0001133421 us-gaap:RetainedEarningsMember 2024-03-31 0001133421 us-gaap:RetainedEarningsMember 2023-03-31 0001133421 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0001133421 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0001133421 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-01 2024-03-31 0001133421 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-01 2023-03-31 0001133421 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-03-31 0001133421 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-03-31 0001133421 us-gaap:ContractsAccountedForUnderPercentageOfCompletionMember noc:AeronauticsSystemsMember noc:B21ProgramLRIPOptionsMember 2023-10-01 2023-12-31 0001133421 us-gaap:ContractsAccountedForUnderPercentageOfCompletionMember noc:AeronauticsSystemsMember noc:B21ProgramLRIPOptionsMember 2024-03-31 0001133421 us-gaap:ContractsAccountedForUnderPercentageOfCompletionMember 2024-01-01 2024-03-31 0001133421 us-gaap:ContractsAccountedForUnderPercentageOfCompletionMember 2023-01-01 2023-03-31 0001133421 2024-03-31 2024-03-31 xbrli:pure 0001133421 2024-04-01 2024-03-31 0001133421 2024-01-01 2024-01-31 0001133421 noc:January2021ShareRepurchaseProgramMember 2021-01-25 0001133421 noc:January2022ShareRepurchaseProgramMember 2022-01-24 0001133421 noc:December2023ShareRepurchaseProgramMember 2023-12-06 0001133421 noc:December2023ShareRepurchaseProgramMember 2023-12-06 2024-03-31 0001133421 noc:December2023ShareRepurchaseProgramMember 2024-03-31 0001133421 noc:Q12023ASRMember 2023-02-02 2023-02-02 0001133421 noc:Q12023ASRMember 2023-02-02 0001133421 noc:Q12023ASRMember 202