WASHINGTON (dpa-AFX) - While reporting financial results for the first quarter on Tuesday, aerospace and defense technology company Northrop Grumman Corp. (NOC) lowered its adjusted earnings guidance for the full year 2025, while maintaining annual sales outlook.
For fiscal 2025, the company now projects MTM-adjusted earnings in a range of $24.95 to $25.35 per share, down from the prior expectations of $27.85 to $28.25 per share. However, sales is still expected between $42.00 billion and $42.50 billion.
On average, analysts polled expect the company to report earnings of $28.05 per share on revenues of $42.32 billion for the year. Analysts' estimates typically exclude special items.
For the first quarter, the company reported net earnings of $481 million or $3.32 per share, sharply lower than $944 million or $6.32 per share in the prior-year quarter.
Excluding a B-21 LRIP loss provision of $2.74 per share, adjusted earnings for the latest quarter would have been $6.06 per share.
Total sales for the quarter declined 7 percent to $9.47 billion from $10.13 billion in the same quarter last year.
The Street was looking for earnings of $6.26 per share on revenues of $9.95 billion for the quarter.
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