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Business/Financial

Cost Recovery, Pension Benefit Lift Northrop Grumman’s Earnings As Sales Rise Also

By Cal Biesecker

Wednesday, July 26th, 2017

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Cost Recovery, Pension Benefit Lift Northrop Grumman’s Earnings As Sales Rise Also

Northrop Grumman Chairman and CEO Wes Bush. Photo: Northrop Grumman

A benefit from a cost claim combined with a pension tailwind drove Northrop Grumman’s [NOC] net income higher in the second quarter and the company’s sales also rose, driven in large part by development work on the Air Force’s new B-21 stealth bomber.Net income increased 7 percent to $552 million, $3.15 earnings per share (EPS), from $517 million ($2.85 EPS), easily beating analysts’ expectations by 28 cents per share. The cost recovery action added $54 million to operating income. The…

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