Northrop Grumman Reports 4Q Loss on Pension Charge
30 Janvier 2020 - 1:23PM
Dow Jones News
By Robert Barba
Northrop Grumman Corp. (NOC) swung to a loss in the latest
quarter on a pension-related charge.
The aerospace-and-defense company reported a fourth-quarter net
loss of $409 million, or $2.43 a share, compared with earnings of
$356 million, or $2.06 a share, a year earlier.
The results included a $1.8 billion mark-to-market pension and
other post-retirement benefits expense, compared with $655 million
a year earlier.
Adjusted earnings were $5.61 a share. Analysts polled by FactSet
expected adjusted earnings of $4.77 a share.
Sales were $8.72 billion, up 7% from $8.16 billion a year
earlier. Revenue from aerospace systems rose 10%, while mission
systems sales rose 6%.
Analysts expected $8.86 billion in total sales.
Write to Robert Barba at robert.barba@wsj.com
(END) Dow Jones Newswires
January 30, 2020 07:08 ET (12:08 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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