Earnings Preview: Northrop Grumman Corporation

| About: Northrop Grumman (NOC)

Northrop Grumman Corporation (NYSE:NOC) is expected to report Q2 earnings before market open Tuesday, July 29, with a conference call scheduled for 12:00 p.m. ET.


Analysts are looking for EPS of $1.40 on revenue of $8.28B. The consensus range is $1.35 to $1.45 for EPS, and $8.15B to $8.51B for revenue, according to First Call. When the company reported its Q1 results it lowered it FY08 EPS and gave FY08 revenue guidance. Northrop Grumman lowered its FY08 EPS forecast to $4.90 to $5.15 from $5.50 to $5.75 vs. consensus of $5.11. The company expects FY08 revenue of approximately $33B vs. consensus of $33.27B.

Analyst Views

At the JP Morgan Basics & Industrials conference on June 3 Northrop Grumman set its 2012 ESP target at $8.00 and sets its 2012 revenue target at $42B. In April, both JP Morgan and Cowen upgraded the company to Outperform from Neutral. JP Morgan upgraded the company citing valuation. Cowen upgraded the company following the Q1 report based on accelerating growth. Northrop Grumman was also upgraded by Goldman Sachs, to Neutral from Sell, on June 25

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