Northrop Grumman beats by $0.56, beats on revs; guides FY15 EPS above consensus
- Reports Q3 (Sep) earnings of $2.75 per share, $0.56 better than the Capital IQ Consensus of $2.19; revenues fell 0.1% year/year to $5.98 bln vs the $5.86 bln Capital IQ Consensus. Total backlog as of Sept. 30, 2015, was $35.9 billion compared with $38.2 billion as of Dec. 31, 2014. Third quarter 2015 new awards totaled $4.8 billion, and new awards for the first nine months totaled $15.5 billion.
- Co raises guidance for FY15, sees EPS of $9.70-9.80 vs. $9.67 Capital IQ Consensus Estimate, up from $9.55-9.70; sees FY15 revs of $23.6-23.8 bln vs. $23.69 bln Capital IQ Consensus Estimate.