Defense Manufacturer Northrop Grumman Sees Record Backlog In Q3, Raises Annual Outlook
Portfolio Pulse from Akanksha Bakshi
Northrop Grumman Corp (NYSE:NOC) reported Q3 FY23 sales growth of 9% YoY to $9.78 billion, beating the consensus of $9.58 billion. EPS was $6.18, up from $5.89 in Q3 FY22. The company raised its 2023 sales guidance to $39 billion, up from the previous estimate of $38.4 billion-$38.8 billion. Despite the positive report, NOC shares traded lower by 0.61% at $486.21.
October 26, 2023 | 2:57 pm
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Northrop Grumman reported strong Q3 FY23 results and raised its 2023 sales guidance. However, the stock traded lower.
Northrop Grumman reported strong Q3 FY23 results and raised its 2023 sales guidance, indicating a positive outlook for the company. However, despite the positive news, the stock traded lower, which could be due to market factors or investor sentiment not reflected in the report.
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