Northrop Grumman reports Q4 adjusted EPS ($1.45), consensus $5.80

Reports Q4 revenue $10.6B, consensus $10.44B. Fourth quarter 2023 net loss totaled $535M, or ($3.54) per diluted share, which include an after-tax charge on the B-21 program of $1.17B, or $7.68 per diluted share for the full year, and an after-tax mark-to-market pension and OPB expense of $316M, or $2.08 per diluted share for the full year. “Our team delivered a strong finish to the year in 2023. We generated free cash flow at the high end of our guidance range, significantly exceeded our sales guidance and beat EPS consensus absent the B-21 charge we identified as a possibility this time last year. With sustained global demand for our products, our 2024 guidance reflects continued strong sales and earnings growth. In addition, we’re reaffirming our cash flow outlook for 2024 and 2025, with free cash flow expected to grow at a greater than 15 percent CAGR through 2026. Northrop Grumman’s solid performance, record backlog and differentiated portfolio support our outlook for robust cash generation and our plans to return a significant amount of capital to shareholders,” said Kathy Warden, chair, CEO and president.