Northrop Grumman Q1 Net Awards $6.5B, Backlog $78.9B
Portfolio Pulse from Benzinga Newsdesk
Northrop Grumman reported Q1 2024 net awards of $6.5 billion and a backlog of $78.9 billion, with significant awards in restricted programs across Aeronautics Systems, Space Systems, and Mission Systems. The company also noted a $1.6 billion reduction in unfunded backlog due to a termination in its restricted Space business.
April 25, 2024 | 10:50 am
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Northrop Grumman's Q1 2024 results show strong performance with $6.5 billion in net awards and a backlog of $78.9 billion, despite a setback in its Space business.
The significant net awards and backlog demonstrate Northrop Grumman's strong market position and future revenue potential, indicating a positive outlook. However, the termination in the Space business and the reduction in unfunded backlog could raise concerns among investors about potential impacts on future earnings. The overall positive net awards and backlog figures likely outweigh the negative impact of the termination, suggesting a positive short-term impact on the stock.
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