Defense ContractsNorthrop Grumman was selected by the US Missile Defense Agency to continue development of the Glide Phase Interceptor, a ship-based missile aimed at defeating hypersonic threats, enhancing its missile defense portfolio.
Financial PerformanceNorthrop Grumman reported solid second-quarter results, surpassing expectations in revenue, earnings per share, and free cash flow, leading to a raised guidance for 2024.
Shareholder ValueNorthrop Grumman's favorable growth prospects and increased cash returns to shareholders support a slightly richer valuation, with expectations of higher stock trading following a strong Q2 performance and guidance raise.