- Northrop Grumman (NYSE:NOC) raises its earnings guidance for FY 2015 as it reports higher than expected Q2 earnings despite flat or lower revenues in each of its four business sectors.
- NOC now sees FY 2015 EPS of $9.55-$9.70 from its prior outlook for $9.40-$9.70, in line with $9.62 analyst consensus estimate, while reaffirming full-year revenues of $23.4B-$23.8B vs. $23.76B consensus.
- In Q2, sales in the aerospace systems segment - NOC's largest, accounting for more than 40% of total revenue - edged up slightly to $2.51B driven by higher volume for unmanned programs.
- Q2 sales in NOC's electronic systems business, which sells space sensors and marine systems, fell 3.5% to $1.68B, while revenue from information systems slipped 4.9% to $1.49B due mostly to declines in command-and-control programs and the impact of in-theater force reductions; sales in the technical services business fell 1.6%.