Northrop Grumman reported solid Q3 2024 financial results with sales increasing 2% to $9.996 billion and net earnings rising 9% to $1.026 billion. Operating income grew 10% to $1.12 billion, while diluted earnings per share increased 13% to $7.00. The company's operating margin rate improved to 11.2% from 10.4% in the prior year period.Mission Systems led segment growth with a 7% sales increase, while Aeronautics Systems and Defense Systems grew 4% and 2% respectively. Space Systems sales declined 3% due to wind-down of restricted space and NGI programs. The company secured $11.7 billion in new awards during the quarter, maintaining a robust total backlog of $84.8 billion.The company ended the quarter with $3.3 billion in cash and cash equivalents. During Q3, Northrop Grumman continued its capital deployment strategy, repurchasing shares and paying dividends while investing in growth initiatives. The company issued $2.5 billion in senior notes in January 2024 to support these activities and maintains strong liquidity with access to significant credit facilities.

Northrop Grumman reported solid Q3 2024 financial results with sales increasing 2% to $9.996 billion and net earnings rising 9% to $1.026 billion. Operating income grew 10% to $1.12 billion, while diluted earnings per share increased 13% to $7.00. The company's operating margin rate improved to 11.2% from 10.4% in the prior year period.Mission Systems led segment growth with a 7% sales increase, while Aeronautics Systems and Defense Systems grew 4% and 2% respectively. Space Systems sales declined 3% due to wind-down of restricted space and NGI programs. The company secured $11.7 billion in new awards during the quarter, maintaining a robust total backlog of $84.8 billion.The company ended the quarter with $3.3 billion in cash and cash equivalents. During Q3, Northrop Grumman continued its capital deployment strategy, repurchasing shares and paying dividends while investing in growth initiatives. The company issued $2.5 billion in senior notes in January 2024 to support these activities and maintains strong liquidity with access to significant credit facilities.