Northrop Grumman Corporation (NOC) reported a robust performance in the first quarter of 2024, achieving a 9% increase in sales year-over-year alongside a 15% increase in diluted EPS, reaching $6.32. The growth was underpinned by broad-based advancements across all four business sectors, fueled by heightened global demand for defense capabilities. The company reaffirmed its full-year guidance, reflecting confidence in its operational strategy and ongoing investments aligned with macroeconomic conditions.
In management commentary, Kathy Warden, Chair, CEO, and President of Northrop Grumman, emphasized the company's strategic direction focused on technology leadership and efficient performance. The successful negotiations surrounding the U.S. defense budget and ongoing international contracts, particularly in missile defense and microelectronics, position Northrop Grumman favorably for sustained growth in 2024 and beyond.