raised its forecast for full-year revenue and profit on Thursday, amid increased global defence spending and a strong backlog.Chief Executive Officer Kathy Warden told investors on a post earnings conference call that the headwinds for the B-21 Raider program are behind them and they “expect program margin dollars to grow annually from here.”The ongoing war in Ukraine has fuelled a strong demand for U.S.
The U.S. Congress’ recent approval for $95 billion additional funding, which includes aid for replenishing U.S. stockpiles in Ukraine and Israel has benefited Northrop. Northrop is facing cost challenges on some of its fixed-price contracts due to inflation, strained supply chains, and labour shortages.
The company posted earnings per share of $6.36 for the second quarter ended June 30, up from $5.34 per share a year earlier. Sales rose 7% to $10.22 billion.