Northrop Grumman Sees Sales Increase in Q3 2019
Northrop Grumman saw a solid Third Quarter (Q3) 2019, with sales increasing in its Aerospace Systems segment, as well as overall. The company reported that its overall Q3 2019 sales increased 5 percent to $8.5 billion from $8.1 billion in the Q3 2018. Third quarter 2019 overall net earnings totaled $933 million, compared with $1.2 billion in Q3 2018.
For the company’s Aerospace Systems segment, Q3 2019 sales increased 5 percent, due to higher sales in all three business areas. Manned aircraft sales reflect higher volume on the E-2 program and a higher rate of F-35 production activity, partially offset by lower B-2 sales. Space sales reflect higher volume on Next Generation Overhead Persistent Infrared (Next Gen OPIR) programs. Autonomous Systems sales increased due to higher volume on multiple programs, including Global Hawk, partially offset by lower NATO AGS volume as that program nears completion.
“Northrop Grumman delivered solid third quarter results, and we continued to grow the business with higher sales at all four sectors,” said Kathy Warden, chairman, chief executive officer and president. “We are aligning our business for the future, expanding our backlog and delivering on our customers’ highest priorities to create sustained value for our shareholders.”