Northrop Grumman Corporation reported third quarter 2020 sales increased 7 percent to $9.1 billion from $8.5 billion in the third quarter of 2019. Third quarter 2020 net earnings increased 6 percent to $1.0 billion, or $5.89 per diluted share, from $933 million, or $5.49 per diluted share, in the third quarter of 2019.
"Northrop Grumman had a strong third quarter as we continue to execute our growth strategy, deliver solid program performance and focus on the well-being of our people,” said Kathy Warden, chairman, chief executive officer and president. “In both our third quarter and year to date results, we achieved higher sales, earnings and cash, while strengthening our foundation for the future with robust new business awards and a record backlog. We are pleased to offer the solutions and innovations that are being selected by our customers to enable their highest priority missions."
Third quarter 2020 sales increased $608 million, or 7 percent, due to higher sales at Space Systems, Mission Systems and Aeronautics Systems.
Third quarter and year to date 2020 net awards totaled $20.3 billion and $43.0 billion, respectively, and backlog increased to $81.3 billion. Significant third quarter new awards include $13.3 billion for the Ground Based Strategic Deterrent EMD program, $1.9 billion for restricted programs and $0.9 billion for F-35.
For the full report: Northrop Grumman Reports Third Quarter 2020 Financial Results
