Northrop Grumman Corp. (NOC) is expected to report Q2 earnings on Thursday, July 23 before the market open with a conference call scheduled for 11:30 am ET.
Analysts are looking for EPS of $1.29 on revenue of $8.68B. The consensus range is $1.20-$1.36 for EPS, and $8.41B-$8.91B for revenue, according to First Call. The company gave EPS guidance for the year when it reported its Q1 results, expecting FY09 EPS of $4.65-$4.90 versus consensus of $4.96. The company sees pension-adjusted EPS of $5.30-$5.55. The Obama administration's vow to trim waste in defense spending has not helped the company's share price. Northrop has been waiting to resume competition with Boeing (BA) for the $35B Air Force tanker contract. Northrop won the contract in February, but the award was protested by Boeing. The Pentagon now says the request for bids will not be released until September.