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Northrop Grumman beats by $0.76, beats on revs; raises FY17 guidance (294.03)
- Reports Q3 (Sep) earnings of $3.68 per share, $0.76 better than the Capital IQ Consensus of $2.92; revenues rose 6.0% year/year to $6.53 bln vs the $6.33 bln Capital IQ Consensus, primarily due to an 11 percent increase at Aerospace Systems. Third quarter operating income increased 2 percent primarily due to higher net FAS/CAS pension adjustment and segment operating income, partially offset by increased unallocated corporate expenses.
- Co issues guidance for FY17, raises EPS to $12.90-13.10 from $12.10-12.40 vs. $12.57 Capital IQ Consensus; raises FY17 rev to $25.5 bln from low-$25 bln vs. $25.38 bln Capital IQ Consensus Estimate.