Latest news with #KathyWarden
Yahoo
21-05-2025
- Business
- Yahoo
Northrop Grumman to Participate in Bernstein's 41st Annual Strategic Decisions Conference
FALLS CHURCH, Va., May 21, 2025 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE: NOC) will participate in Bernstein's 41st Annual Strategic Decisions Conference on Wednesday, May 28. Kathy Warden, chair, chief executive officer and president, will present beginning at 10:00 a.m. Eastern time. The presentation will be webcast live at Northrop Grumman is a leading global aerospace and defense technology company. Our pioneering solutions equip our customers with the capabilities they need to connect and protect the world, and push the boundaries of human exploration across the universe. Driven by a shared purpose to solve our customers' toughest problems, our employees define possible every day. Note: Statements to be made at the conference, including in the presentation and in any accompanying materials, contain or may contain statements that constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as 'will,' 'expect,' 'anticipate,' 'intend,' 'may,' 'could,' 'should,' 'plan,' 'strategy,' 'project,' 'forecast,' 'achieve,' 'believe,' 'estimate,' 'guidance,' 'outlook,' 'trends,' 'goals,' 'confident,' 'on track' and similar expressions generally identify these forward-looking statements. These forward-looking statements speak only as of the date when made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements after the date of the conference, except as required by applicable law. Forward-looking statements are not guarantees of future performance and inherently involve a wide range of risks and uncertainties that are difficult to predict. A discussion of these risks and uncertainties is contained in the Company's filings with the Securities and Exchange Commission. Contact: News Bureaunewsbureau@ Todd in to access your portfolio
Yahoo
21-05-2025
- Business
- Yahoo
Northrop Grumman Increases Quarterly Dividend 12 Percent to $2.31
FALLS CHURCH, Va., May 20, 2025 (GLOBE NEWSWIRE) -- The board of directors of Northrop Grumman Corporation (NYSE: NOC) declared a quarterly dividend of $2.31 per share on Northrop Grumman common stock, payable June 18, 2025, to shareholders of record as of the close of business June 2, 2025. "Reflecting our strong financial position and commitment to deliver value to our shareholders, we are increasing our quarterly dividend by 12 percent," said Kathy Warden, chair, chief executive officer and president, Northrop Grumman. "This marks our 22nd consecutive annual increase and demonstrates our disciplined approach to capital deployment, returning capital to shareholders while investing in innovative solutions for our customers." Northrop Grumman is a leading global aerospace and defense technology company. Our pioneering solutions equip our customers with the capabilities they need to connect and protect the world, and push the boundaries of human exploration across the universe. Driven by a shared purpose to solve our customers' toughest problems, our employees define possible every day. Contact: News Bureaunewsbureau@ Todd Ernst in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Business
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Northrop Grumman Increases Quarterly Dividend 12 Percent to $2.31
FALLS CHURCH, Va., May 20, 2025 (GLOBE NEWSWIRE) -- The board of directors of Northrop Grumman Corporation (NYSE: NOC) declared a quarterly dividend of $2.31 per share on Northrop Grumman common stock, payable June 18, 2025, to shareholders of record as of the close of business June 2, 2025. "Reflecting our strong financial position and commitment to deliver value to our shareholders, we are increasing our quarterly dividend by 12 percent," said Kathy Warden, chair, chief executive officer and president, Northrop Grumman. "This marks our 22nd consecutive annual increase and demonstrates our disciplined approach to capital deployment, returning capital to shareholders while investing in innovative solutions for our customers." Northrop Grumman is a leading global aerospace and defense technology company. Our pioneering solutions equip our customers with the capabilities they need to connect and protect the world, and push the boundaries of human exploration across the universe. Driven by a shared purpose to solve our customers' toughest problems, our employees define possible every day. Contact: News Bureaunewsbureau@ Todd Ernst in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-04-2025
- Business
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NOC Q1 Earnings Call: Profit Miss Driven by B-21 Charges and Contract Delays
Security and aerospace company Northrop Grumman (NYSE:NOC) fell short of the market's revenue expectations in Q1 CY2025, with sales falling 6.6% year on year to $9.47 billion. On the other hand, the company's outlook for the full year was close to analysts' estimates with revenue guided to $42.25 billion at the midpoint. Its non-GAAP profit of $3.32 per share was 47% below analysts' consensus estimates. The stock traded down 11.8% to $468.25 after reporting and hosting the earnings call. Is now the time to buy NOC? Find out in our full research report (it's free). Revenue: $9.47 billion vs analyst estimates of $9.93 billion (6.6% year-on-year decline, 4.7% miss) Adjusted EPS: $3.32 vs analyst expectations of $6.26 (47% miss) Adjusted EBITDA: $910 million vs analyst estimates of $1.39 billion (9.6% margin, 34.3% miss) The company reconfirmed its revenue guidance for the full year of $42.25 billion at the midpoint Management lowered its full-year Adjusted EPS guidance to $25.15 at the midpoint, a 10.3% decrease Operating Margin: 6.1%, down from 10.6% in the same quarter last year Free Cash Flow was -$1.82 billion compared to -$976 million in the same quarter last year Backlog: $92.8 billion at quarter end Organic Revenue fell 6.6% year on year (8.9% in the same quarter last year) Market Capitalization: $66.79 billion Northrop Grumman's first quarter results were shaped by delays in government contract awards and a significant profit adjustment on the B-21 bomber program. Management cited the ongoing impact of a dynamic U.S. defense budget environment, including a continuing resolution that slowed new awards, as a key reason for lower sales and margins. CEO Kathy Warden acknowledged the $477 million pretax loss on B-21 as a consequence of higher manufacturing and material costs, some of which stemmed from process changes to support accelerated production rates and macroeconomic pressures. Looking ahead, management reaffirmed its full-year revenue outlook but reduced its non-GAAP earnings guidance due to the B-21 charge. Warden pointed to a record backlog and strong international demand as drivers of confidence in achieving the company's targets. She also highlighted ongoing investments in innovation and operational efficiency as essential to supporting future growth, even as the defense industry navigates uncertainties in budget cycles and supply chain risks. Northrop Grumman's management addressed the main factors behind the quarter's performance, focusing on program-specific challenges and evolving market dynamics. The company attributed the earnings miss primarily to the B-21 adjustment and delayed U.S. government contracts, while also emphasizing progress in other key programs and international markets. B-21 Bomber Cost Adjustment: The $477 million pretax charge on the B-21 program was driven by higher manufacturing costs following a process change to enable faster production, as well as increased material costs due to macroeconomic factors. Management stated these changes were necessary to support future production rates and reduce long-term program risk. Contracting and Award Delays: Leadership cited slower-than-expected government contract awards, a result of the ongoing U.S. defense budget continuing resolution, as a major factor behind the lower sales ramp in the quarter. However, management expects improvement in award timing as the year progresses. Sentinel and IBCS Program Progress: The Sentinel missile program achieved a critical milestone with a successful static fire test, while the Integrated Battle Command System (IBCS) secured a nearly $500 million contract to expand software and AI capabilities. These developments underline steady progress in strategic programs aligned with U.S. national security priorities. International Sales Momentum: International sales rose 11% year over year, with management highlighting robust demand from Europe, Asia Pacific, and the Middle East. The company's first-quarter international book-to-bill ratio of 1.45 indicates sustained growth potential in overseas markets. Cost Efficiency Initiatives: Management noted ongoing efforts to drive $200 million in annual cost savings through supplier engagement, facility optimization, and digital process improvements. These initiatives are viewed as essential to maintaining competitiveness amid inflationary pressures and evolving trade policies. Management's near-term outlook is shaped by expectations for improved contract flow, execution on major programs, and growing international demand, but is tempered by inflationary headwinds and ongoing budgetary uncertainties. Backlog Conversion and Award Timing: The ability to convert a record $92.8 billion backlog into revenue depends on timely government contract awards, especially in the second half of the year. Management believes that recent award momentum will support a sequential sales ramp. Program Execution and Cost Control: Delivering on key programs such as Sentinel, IBCS, and B-21—while managing manufacturing costs and supply chain risks—remains central to stabilizing margins and achieving profit targets. Ongoing cost efficiency measures are expected to offset some macroeconomic pressures. International Demand Expansion: Management sees continued growth in international markets as a major long-term driver, supported by new product approvals and expanded partnerships. However, trade policy changes and global supply chain issues remain potential risks. Kristine Liwag (Morgan Stanley): Asked for milestones to watch for de-risking the B-21 program and about potential future charges. Management explained that recent process changes and learning on early production lots should reduce risk going forward, but acknowledged some uncertainties remain. Robert Stallard (Vertical Research): Inquired about the stability of U.S. government contracting and what provides confidence in improvement. Management expressed optimism due to observed progress on award decisions, but cautioned that uncertainties in budget cycles persist. Ronald Epstein (Bank of America): Pressed for clarity on whether B-21 charges could recur and the factors behind the latest adjustment. Management said the bulk of costs stemmed from a one-time process change and material inflation, and do not expect similar charges to repeat, but noted ongoing risk management. Sheila Kahyaoglu (Jefferies): Asked how tariffs and trade policy could affect Northrop Grumman's supply chain and costs. Management stated that most supply contracts shield the company from trade-related cost increases, but they continue to monitor and mitigate component availability risks. Myles Walton (Wolfe Research): Questioned the confidence behind the expected sales ramp in the second half, given current contract delays. Management pointed to large awards already in backlog, planned ramps on key programs, and anticipated new competitive wins as reasons for their outlook. Looking ahead, the StockStory team will be watching (1) the pace at which delayed government contracts are awarded and converted into revenue, (2) progress on critical milestones in major programs like B-21 and Sentinel, and (3) the trajectory of international sales growth as new awards are booked. Execution on cost control measures and the ability to manage supply chain risks will also be important markers of success. In the wake of earnings, is NOC a buy or sell? See for yourself in our free research report. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 175% over the last five years. Stocks that made our list in 2019 include now familiar names such as Nvidia (+2,183% between December 2019 and December 2024) as well as under-the-radar businesses like Comfort Systems (+751% five-year return). Find your next big winner with StockStory today. Sign in to access your portfolio
Yahoo
23-04-2025
- Business
- Yahoo
Northrop loses $477M on B-21 bomber as it revamps production process
Northrop Grumman reported a $477 million loss on the B-21 Raider in the first quarter of 2025, as higher manufacturing and materials costs for making the sixth-generation stealth bomber squeeze the company. In a Tuesday statement on its financial performance, Northrop said much of the $477 million loss stemmed from a change the firm made to its B-21 production process, intended to allow the company to build the bombers at a higher rate. Northrop CEO Kathy Warden also said in an earnings call Tuesday with investors that macroeconomic factors are driving up the projected price of bomber materials. The loss encompassed all five low-rate initial production lots for the bomber. 'While I'm disappointed with this financial impact, we continue to make solid progress on the [B-21] program, demonstrating performance objectives through tests, and we are progressing through the first two lots of production,' Warden said. 'With significant learning behind us, we are ready to deliver [to] the Air Force this highly capable strategic deterrent.' The B-21 loss contributed to an overall $183 million loss in Northrop Grumman's aeronautics systems division. That division also recorded $2.8 billion in sales, an 8% decline from the first quarter of 2024. Overall, Northrop's profits dropped $498 million when compared to the first quarter of 2024, losing 46% of the $1.1 billion in operating income reported a year ago. Nearly all of that was due to the B-21 loss. Warden said the B-21 is completing its engineering and manufacturing development phase, and is now going through key tests to prove the bomber can carry out all of its objectives. Northrop Grumman is now working through the first two low-rate initial production, or LRIP, lots, she said, and has begun advance work known as long lead work on the third and fourth lots. 'We've built a good bit of experience now in building the aircraft,' Warden said, which is helping Northrop reduce the risk that comes with building a new, advanced aircraft. The Air Force and Northrop Grumman rolled out the B-21, which will eventually replace the B-1 Lancer and B-2 Spirit bombers, in December 2022, and the plane took its first flight the following November. The B-21′s development and testing have been relatively smooth, and multiple officials and lawmakers have praised it. But Warden has cautioned Northrop Grumman's investors since early 2023 that the company would likely initially lose money on the program and turn a profit later. The most recent losses followed a $1.6 billion loss that Northrop also reported on the B-21 in the fourth quarter of 2023. Former Air Force Secretary Frank Kendall also told lawmakers in April 2024 that the Air Force's costs for the plane were coming down as a result of negotiations with Northrop. At the time of the rollout, the B-21′s inflation adjusted average procurement unit cost was about $692 million. The Air Force plans to buy at least 100 B-21s but has left the door open to buying more bombers. The manufacturing changes that led to this year's losses are related to the lessons Northrop learned as it scaled up production, Warden said, and were made jointly with the Air Force. But those lessons will be absorbed and 'behind us' as Northrop finishes the LRIP phase and moves into full-rate production, she said. Warden said the process changes resulted in a larger share of the B-21 loss than the material costs. Northrop Grumman is also building the LGM-35A Sentinel intercontinental ballistic missile for the Air Force, which the service wants to replace the Cold War-era Minuteman III nuclear missiles. Warden also said the Air Force and Northrop Grumman in March conducted a successful static fire test of Sentinel's first stage solid rocket motor. But Sentinel is facing significant overruns in its projected future costs, stemming from higher-than-expected expenses in the construction of facilities such as launch centers. Northrop is continuing to work with the Air Force to find ways to bring down costs and make its schedule more efficient, Warden said . 'What we look at in [Sentinel's program] restructuring is to ensure that the changes and requirements are adequately reflected in the design and ultimately in the contract, and we'll be working to do that with the government,' Warden said. Sign in to access your portfolio
