Northrop Grumman Raises 2026 Outlook After Record Q2 Bookings and Backlog
Northrop Grumman reported strong second-quarter 2026 results, raising its full-year sales guidance to $43.75-$44.25 billion and adjusted EPS to $28.60-$29.10. The company achieved a record backlog of $105 billion, driven by $20 billion in net awards and a book-to-bill ratio of 1.84x. Demand was fueled by U.S. defense priorities in missiles, missile defense, autonomous aircraft, and national security space. However, program-specific cost issues on the SiAW (Defense Systems) and GEM 63XL (Space Systems) weighed on segment margins, though management expects improvement in the second half. Second-quarter sales rose 5% year-over-year to $10.9 billion, with adjusted free cash flow near $1 billion. CEO Kathy Warden highlighted alignment with U.S. government priorities and international modernization efforts.
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