Northrop Grumman Corporation – Top Defense Stocks In 2021
Defense spending around the world is on an uptrend. The geopolitical situation around the world is also heating up. In Asia, there is an increasing aggressiveness of China. In eastern Europe, there are questions about Russia. The Middle East also has its own problems. And then there is the question of Afghanistan. So, defense spending is unlikely to go down anytime soon. Higher defense spending is a tailwind for top defense stocks 2021 like Northrop Grumman, Raytheon, Lockheed Martin, and other such companies. Northrop Grumman has worked on some high-profile projects like the F-35 fighter aircraft program. In 2020, the company clocked revenues in excess of $36 billion. Its earnings per share have also more than doubled in the past 10 years. The number was $7.5 per share in 2011 and it came in at $19 per share in 2020.
Northrop Grumman Announces Q32021 Earnings Numbers
On 28th October 2021, Northrop Grumman announced its third-quarter 2021 earnings results. Total sales were down about 4% year-on-year from $9 billion in Q32020 to $8.7 billion. However, the total operating income was up 6% from $985 million in Q32020 to $1.04 billion. The net income came in at $1.06 billion as compared to $986 million in Q32020. The earnings per share on a diluted basis rose from $5.89 in Q32020 to $6.63. Company CEO Cathy Warden said that the company hoped for the US government to resolve the deadlock in Washington related to the President’s budget request. She also expressed satisfaction with the quarterly results that Northrop Grumman had managed to achieve. The financial results seem to suggest that Northrop Grumman has emerged well from the pandemic and it continues to be one of the top defense stocks in 2021.
Top Defense Stocks 2021
Northrop Grumman is a 90,000-strong defense major. It offers a wide range of platforms and weapon systems to the US Defense Department as well as US allies around the world. The stock for Northrop Grumman trades on the New York stock exchange.