Defense ContractsThe US Missile Defense Agency (MDA) announced that Northrop Grumman (NOC) was selected to continue development of the Glide Phase Interceptor (GPI).
Earnings GuidanceNOC raised 2024 EPS guidance by ~$0.75, driven by stronger margin expectations at Aeronautics and Space Systems and a mix of non-operating items.
Financial PerformanceNorthrop Grumman Corp expects overall margin expansion and free cash flow growth of over 20%, supported by a $300 million reduction in capital expenditures.