Virginia-based aerospace and defense manufacturer Northrop Grumman has raised its sales guidance for 2021 to $35.8-36.2bn from the prior $35.3-35.7bn.
In its Q2 2021 earnings report, the company also lifted the guidance for all its divisions by 3-5pc. This includes Aeronautics, Defense, and Space. In H1 2021, the company’s Aeronautic Systems sales increased by 2pc annually to $5.9bn but were flat at $2.9bn in Q2 2021. Space Systems saw a 32pc rise in H1 sales to $5.2bn from $3.9bn in the prior-year period. In Q2 as well, this division saw a 34pc uptick in sales to $2.7bn against $2.04bn a year ago. Defense Systems sales, however, declined by 21pc in H1 while Mission Systems increased by 8pc.
Northrop Grumman posted total revenue of $9.2bn in Q2 2021, up 3pc from $8.9bn in Q2 2020. Meanwhile, net earnings rose 3pc as well to $1.04bn from $1.01bn in the same period.