Northrop Grumman shares jumped about 9% on Tuesday after the company raised its annual profit forecast and beat Wall Street expectations for Q2 revenue, driven by strong demand for military aircraft and defense systems amid ongoing global conflicts, according to Reuters. They write:
Northrop Grumman (NOC.N), opens new tab raised its annual profit forecast and topped Wall Street estimates for second-quarter revenue on Tuesday, aided by sustained demand for its military aircraft and defense systems as geopolitical tensions simmer. […]
A protracted Russia-Ukraine war and conflict in the Middle East have boosted demand for weapons from defense contractors such as Northrop. […]
It reported a quarterly net income of $1.17 billion, or a per-share profit of $8.15, compared with the $940 million, or $6.36 per share, a year ago.
Read more here.
If you’re willing to fight for Main Street America, click here to sign up for my free weekly email.
